Provides tax exemptions for qualified start-up businesses and entities in HOPE zones.
This bill amends the Michigan single business tax act to provide tax exemptions for qualified start-up businesses and entities in HOPE zones. Qualified start-up businesses can claim an exemption for up to five tax years, subject to approval by the city's governing body. The exemption requires filing an affidavit with the city treasurer by September 1 each year. Additionally, the bill exempts entities in HOPE zones from the tax imposed under the uniform city utility users tax ordinance.
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