™Your Policy Risk Impact Agent
60 chapters · 469 sections in this title.
Mich. Comp. Laws § 211.1031 Short title.
0.1K chars
Sec. 1. This act shall be known and may be cited as the "qualified forest property recapture tax act".
Mich. Comp. Laws § 211.1032 Definitions.
1.8K chars
Sec. 2. As used in this act: (a) "Benefit period" means the period in years between the date of the first exempt transfer and the conversion by a change in use, not to exceed the 10 years immediately preceding the year in which the qualified forest property is converted by a chan…
Mich. Comp. Laws § 211.1033 Qualified forest property recapture tax; imposition.
1.5K chars
Sec. 3. (1) Beginning January 1, 2007, the qualified forest property recapture tax provided under section 4 is imposed as provided in this section if the property is converted by a change in use after December 31, 2006. (2) The recapture tax is the obligation of the person who ow…
Mich. Comp. Laws § 211.1034 Recapture tax; rate.
4.5K chars
Sec. 4. The recapture tax under this act shall be imposed at the following rate: (a) Except as otherwise provided in subdivision (c), if the property is converted by a change in use and there have not been 1 or more harvests of forest products on that property consistent with the…