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Detroiter Online

Korean Auto Supplier Business Incubator Launched
Dykema Named as Legal Advisor  May 16, 2012 On May 14, Dykema was appointed as a member of the Kore...
Harrington Communications Announces Two New Hires and One Promotion
GROSSE POINTE WOODS, Mich., May 16, 2012 — Harrington Communications, an award-winning Grosse Pointe W...
Plante Moran and NewNorth Center Launch Second Annual Innovation Quotient Survey
SOUTHFIELD, Mich., May 15, 2012 – Plante Moran, PLLC, and NewNorth Center are calling on Midwest busine...
The YES Foundation honors David Segura as 2012's Distinguished American Award recipient
Bingham Farms, MICH., - The YES Foundation has selected David Segura, CEO of VisionIT, as 2012’s Distin...
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...
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: