Assertion: financial institution | /r/HasAspect | nexus
Facets:
value: with michigan
type: LOCATION
Source sentences:
text: Beginning with tax year 2014, and continuing for every tax year thereafter, the FIT is a business privilege tax that is imposed on financial institutions organized for profit and doing business in Ohio or otherwise having nexus in or with this state under the Constitution of the United States.
text: A financial institution has nexus with Michigan if it 1) is physically present in the state for more than one day, 2) actively solicits sales in Michigan and has gross receipts of $350,000 or more sourced to Michigan, or 3) has an ownership or beneficial interest in a flow-through entity directly, or indirectly through 1 or more flow-through entities, which has substantial nexus in this state.