Michigan HB5925 amends corporate income tax deductions to add back certain outsourcing expenses.

Michigan HB5925 amends the corporate income tax deductions to add back specified outsourcing expenses. These expenses include trade or business expenses, permit and license fees, lease brokerage fees, equipment installation costs, and other similar expenses. The bill also modifies the definition of "eligible expenses" and "specified outsourcing expenses" to include certain costs related to the elimination or relocation of businesses within the state. This change aims to ensure that certain expenses are not double-counted in state and federal tax calculations.

Michigan HB5925 amends corporate income tax deductions to add back certain outsourcing expenses.

Michigan HB5925 amends the corporate income tax deductions to add back specified outsourcing expenses. These expenses include trade or business expenses, permit and license fees, lease brokerage fees, equipment installation costs, and other similar expenses. The bill also modifies the definition of "eligible expenses" and "specified outsourcing expenses" to include certain costs related to the elimination or relocation of businesses within the state. This change aims to ensure that certain expenses are not double-counted in state and federal tax calculations.