October 9, 2003, Introduced by Senators CROPSEY, CASSIS, BISHOP and McMANUS and referred to the Committee on Finance.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 355a.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 355a. (1) A person required under the internal revenue
2 code to file a form 1099 for a tax year shall file a copy of that
3 form 1099 with the department.
4 (2) A person who fails to comply with subsection (1) is
5 liable to the department for a penalty of $500.00 for each form
6 1099 the taxpayer fails to file.