Michigan SB0472 earmarks withholding tax revenues for certified new jobs into the More Jobs for Michigan fund.

Michigan SB0472 amends sections 51f and 711 of the Michigan Compiled Laws to earmark withholding tax capture revenues attributable to certified new jobs into the More Jobs for Michigan fund. This fund is created under the Michigan Strategic Fund Act. The bill requires that a portion of the withholding tax revenues, specifically those attributable to certified new jobs, be deposited into this fund each state fiscal year. The bill also mandates that employers with more than 250 employees file their annual returns or reports in electronic form.

Michigan SB0472 earmarks withholding tax revenues for certified new jobs into the More Jobs for Michigan fund.

Michigan SB0472 amends sections 51f and 711 of the Michigan Compiled Laws to earmark withholding tax capture revenues attributable to certified new jobs into the More Jobs for Michigan fund. This fund is created under the Michigan Strategic Fund Act. The bill requires that a portion of the withholding tax revenues, specifically those attributable to certified new jobs, be deposited into this fund each state fiscal year. The bill also mandates that employers with more than 250 employees file their annual returns or reports in electronic form.