Current as of February 09, 2022 | Updated by FindLaw Staff
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Sec. 11. Subject to the exclusions, adjustments, exemptions, and deductions herein provided, an annual tax of 1% on corporations and resident individuals and of 1/2 % on nonresident individuals for general revenue purposes and the purposes provided for in sections 11a and 11b 1 is hereby imposed as an excise on income earned and received on and after the effective date of this ordinance. However, if the governing body of the city adopts a resolution to impose the tax at a lower rate, the tax is hereby imposed at that lower rate. If the tax is imposed at a lower rate, the rate on nonresident individuals shall not exceed 1/2 of the rate on corporations and resident individuals.
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 141. Municipal Financing § 141.611 - last updated February 09, 2022 | https://codes.findlaw.com/mi/chapter-141-municipal-financing/mi-comp-laws-141-611/
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