2010 Michigan Compiled Laws
Chapter 141 - MUNICIPAL FINANCING
Act 284 of 1964 - CITY INCOME TAX ACT (141.501 - 141.787)
284-1964-2 - CHAPTER 2 UNIFORM CITY INCOME TAX ORDINANCE (141.601...141.699)
Section 141.645 - Net profits; consolidated returns.
CITY INCOME TAX ACT (EXCERPT)Act 284 of 1964
141.645 Net profits; consolidated returns.
Sec. 45.
For the purpose of determining net profit allocable to the city under this ordinance, a corporate taxpayer may elect to file a consolidated return including subsidiaries whose voting stock is more than 50% owned by the taxpayer, if such return will more properly reflect the net profits and activities of the taxpayer in the city. The city may require a consolidated return if necessary to properly determine net profits of the taxpayer allocable to the city.
History: 1964, Act 284, Imd. Eff. June 12, 1964
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