The Tax Commission has interpreted the term "new industrial property" to mean "new to the tax base in Michigan". Following this interpretation, the following would be considered "new industrial property":

1. New equipment purchased from a manufacturer of equipment.
2. Used equipment never before located in Michigan.
3. Used equipment purchased from a broker of used equipment. The thinking here is that, because the prior owner is a broker, the used equipment has lost its status as existing equipment in Michigan because it has become inventory.

1. Existing equipment already in the possession of the applicant.
2. Existing equipment in the possession of another company located in Michigan.