Michigan SB0972 amends the use tax to provide exemptions for trade-in values of personal electronics.
Michigan SB0972 amends the use tax to provide exemptions for the trade-in value of personal electronics. The bill specifies that the agreed-upon value of a portable electronic device used as part payment of the purchase price of a new or used portable electronic device is exempt from the tax. This exemption applies if the value of the credit is separately stated on the invoice, bill of sale, or similar document given to the purchaser.
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