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FAQ
  Michigan Business Tax
B15. Does the sale by an individual of a direct investment in a corporation, partnership or LLC that is not traded on a public exchange constitute "personal investment activity" such that the income and proceeds from such a sale are excluded from business income and gross receipts? Similarly, is the distributive share of a partnership to a partner that is an individual business income or gross receipts to that individual?
 
Answer:

For an individual, the sale of an ownership interest in a corporation, partnership, or limited liability company will generally not constitute business income or gross receipts to that individual so long as such investment does not constitute the trade or business of the individual. This is true even if the shareholder, partner, or member is an active rather than passive investor.

The distributive share of a partnership to a partner that is an individual does not constitute business income or gross receipts to that individual.