Bills Signed Easing Process for Accountants Forming Companies
(Targeted News Service Via Acquire Media NewsEdge) LANSING, Mich., Oct. 15 -- Gov. Rick Snyder, R-Mich., issued the following news release:
Gov. Rick Snyder today signed two bills that make it easier for public accountancy firms to incorporate in Michigan.
House Bills 4334 and 4654, sponsored by state Reps. Tom McMillin and Earl Poleski, respectively, revise existing law that required all members of professional limited liability companies (PLLC) or shareholders of professional service corporations (PC) to be licensed in their respective fields. The bills amend the law to allow accounting firms to organize as a PLLC or a PC without having each member, manager, or shareholder licensed as an accountant.
"Certified public accountancy firms that choose to incorporate as a PLLC or PC will now have greater flexibility when making hiring decisions, which will help them grow their business and better serve their customers," Snyder said.
HB 4334 and 4654 are now Public Acts 131 and 132 of 2013.
Snyder also signed the following six bills:
HB 4002, sponsored by state Rep. Mike Shirkey, requires the Michigan Department of Treasury to pay an additional 3 percent interest on income tax refunds that are not paid within 60 days from the date the department received the return after March 1 of the tax year. The interest would only apply to returns that meet certain conditions. The bill is now PA 133.
HB 4355, sponsored by state Rep. Paul Clemente, allows condo associations to vote on whether to receive an annual audit if the association's annual revenues are fewer than $20,000, and instead have a certified public accountant review the books. It is PA 134.
HB 4586, sponsored by state Rep. Patrick Somerville, revises the "look back" period for business voluntary disclosure agreements to only go back four years total for all business taxes. It is now PA 135.
HB 4786, sponsored by state Rep. Matt Lori, increases the fees required for obtaining copies of vital records from $4 to $15 per copy depending on the record. It also establishes a $25 fee option for expedited service. It is now PA 136.
HB 4787, also sponsored by Lori, increases the fees for the state's Certificate of Need program. The fees, which have not been adjusted since FY 2005, will provide more adequate funding to sustain the program. It is now PA 137.
HB 4961, sponsored by state Rep. Peter MacGregor, requires the state Department of Human Services to pay a $3 administrative rate increase for private providers of foster care services for FY 2014. It is now PA 138.
For more information on legislation, visit legislature.michigan.gov.
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(c) 2013 Targeted News Service
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