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Detroiter Online

Brinks’ Kelly Burris to Serve as Co-Chair/Speaker at Green Technology IP Summit
ANN ARBOR – May 14, 2012 - Kelly Burris, a shareholder in the Ann Arbor office of Brinks Hofer Gilso...
OpTech to Attend, Sponsor Booth at Homeland Security Acquisition Summit
Troy, Mich., May 10, 2012 – OpTech, a Troy, Michigan-based information technology and engineering staff...
Chase Plastics Celebrates 20 Years of "Outrageous" Customer Service
FOR: Chase Plastics  Contact: Brian Bleau The Quell Group 248.649.8900 bbleau@quel...
Michigan Bike Accident Lawyer Creates State Helmet Laws Graphic For Motorcyclists
Our Michigan bike accident lawyers of Buckfire & Buckfire, P.C. recently created a graphic on the state b...
Tanner Friedman hires Maggie Sisco
FARMINGTON HILLS, Mich. — Tanner Friedman Strategic Communications has hired Maggie Sisco as account co...
Taxes & Incentives
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Corporate Tax

Michigan replaced the Michigan Business Tax (MBT) effective January 1, 2012 with a new, simpler and more competitive corporate income tax.
  • Low tax rates have been established in Michigan. The new structure taxes C-Corporations at 6% on federal taxable income apportioned to Michigan. Other entities – individuals, partnerships, LLCs, etc. – have income flow to their personal income tax. The personal income tax rate will remain 4.35%, dropping to 4.25% in 2013.
  • The change reduces business taxes by an estimated 86%. All industries are in line for significant tax cuts, thus reducing operational costs and encouraging new investment in the state.
  • Michigan’s overall business tax climate ranking is now 12th in the U.S., according to the Tax Foundation. In isolating the corporate tax rankings, the Foundation’s Michigan ranking jumps to 7th from the previous level of 49th.
The State of Michigan has a tax estimator on their website for companies interested in relocating or expanding their business. Please visit the Department of Treasury web site at www.michigan.gov/taxes.

 

Sales Tax -- 6%

Income Tax -- Flat rate of 4.35 percent.
Seven Detroit regional municipalities levy a local income tax in addition to the state income tax:
MunicipalityResident Non-ResidentCorporate
Detroit2.50%1.25%1.40%
Flint1.00%1.00%1.00%
Hamtramck1.00%1.00%1.00%
Highland Park2.00%1.25%2.00%
Lapeer1.00%1.00%1.00%
Pontiac1.00%1.00%1.00%
Port Huron1.00%1.00%1.00%

Angels Networks

Michigan has three active Angel Networks: