Michigan SB0981 amends sales tax exemptions to include trade-in values of personal electronics.

Michigan SB0981 amends the sales tax law to provide an exemption for the trade-in value of personal electronics. This change applies to sales where the trade-in value is separately stated on the invoice or bill of sale. The bill specifies that the exemption applies to portable electronic devices purchased from sellers engaged in the retail business of selling such devices. This amendment aims to clarify and expand the scope of sales tax exemptions to include personal electronics trade-ins, aligning with modern consumer practices.

Michigan SB0981 amends sales tax exemptions to include trade-in values of personal electronics.

Michigan SB0981 amends the sales tax law to provide an exemption for the trade-in value of personal electronics. This change applies to sales where the trade-in value is separately stated on the invoice or bill of sale. The bill specifies that the exemption applies to portable electronic devices purchased from sellers engaged in the retail business of selling such devices. This amendment aims to clarify and expand the scope of sales tax exemptions to include personal electronics trade-ins, aligning with modern consumer practices.