Does production insurance purchased from an out-of-state insurance company through a Michigan based broker/agent qualify as a direct production expenditure?
Yes, the law specifically provides credit for this type of expense as long as the company is indeed “Michigan based.” Define “Michigan-based” for insurance agents. An insurance agent is based in Michigan if the insurance agent has a bricks and mortar storefront in Michigan with at least one full time employee and at least a one year Michigan presence.
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