Detailed analysis. Introduction
Overview of the MBT structure and tax base; prior law and the value added tax concept
Case law discussing the Michigan SBT's value added concept
Former law: outline of major calculations used to determine SBT base and tax
Taxable persons
overview and Nexus
Business activities: a "threshold requirement" for taxability
"Group or combination acting as a unit" as a taxable person
Affiliated corporate groups: combined or consolidated returns
Partnerships and subchapter S corporations
Estates and trusts
Entities under common control
Exemptions under the MBT
Banks and financial institutions
Insurance companies
REITs, REMICs, and RICs
Non-profit housing cooperative corporations
Exempt organizations
DISCs and FSCs
Capital acquisition deduction
Exceptions to the use of tax basis as cost
The importance of timing in the use of the CAD
Acquisition of property as a result of tax-free events
Method of accounting
Allocation and apportionment of CAD
Sequence of CAD deduction and recapture
Recapture of the capital acquisition deduction
Administrative rulings discussing the CAD and CAD recapture
Business loss
Tax base: selected topics
Allocation and apportionment
Working papers.