Michigan Governor Signs Law Amending Use Tax Act Regarding Vehicles Purchased for Resale

The Michigan Governor July 18 signed a law amending the Use Tax Act regarding vehicles purchased for resale, for sales and use tax purposes. The law includes measures: 1) amending the definitions of “seller” and “purchase price;" 2) amending the Use Tax Act to change when a vehicle purchased for resale is converted from a tax-exempt use to a non-exempt use; 3) elaborating that a vehicle wouldn’t be considered converted if it isn’t registered in the name of a dealer before a sale or lease; 4) clarifying that beginning April 26 the Department of Treasury shall not issue any new ...