Mich. Admin. Code R. 205.4112 - Effect of rules on hard-copy recordkeeping requirements

Rule 12.

(1) Except as otherwise provided in this rule, these rules do not relieve taxpayers of the responsibility to retain hard-copy records that are created or received in the ordinary course of business as required by existing law. Hard-copy records may be retained on a recordkeeping medium as provided in R 205.4111.

(2) If hard-copy records are not produced or received in the ordinary course of transacting business (e.g., when the taxpayer uses electronic data interchange technology), then such hard-copy records need not be created.

(3) Hard-copy records generated at the time of a transaction using a credit or debit card shall be retained unless all of the details necessary to determine correct tax liability relating to the transaction are later received and retained by the taxpayer in accordance with these rules. The details include those listed in R 205.4115(1).

(4) A taxpayer is not required to retain computer printouts that are created for validation, control, or other temporary purposes.

(5) Nothing in this rule shall prevent the department from requesting hard-copy printouts instead of retained machine-sensible records at the time of examination.

Notes

Mich. Admin. Code R. 205.4112

1998 - 2000 AACS