Construction Equipment Guide
470 Maryland Drive
Fort Washington, PA 19034
800-523-2200
Sun July 27, 2008 - Midwest Edition
Gov. Granholm signed into law SB 1217, now Public Act 177 of 2008, July 9, providing a critical fix to the Michigan Business Tax (MBT) as it applies to construction contractors and subcontractors.
PA 177 brings clarity to the MBT allowing builders and subcontractors, including specialty trades, to deduct the cost of building materials from gross receipts, which was the original intent of the legislation passed last year. PA 177 applies retroactively to all business activity beginning January 1, 2008.