10 Year Use Tax Audit Narrowed
If your business is currently undergoing a use tax audit, then take notice.
The statute of limitations for use tax audits is set forth in the Revenue Act. Specifically, MCL 205.27a states that: Read More ›
Categories: Use Tax
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Navigating the Audit Appeal Process
Every year, the Michigan Department of Treasury audits Michigan businesses for compliance with the Sales and Use tax laws. Oftentimes, those audits result in tax assessments that are disputed by the taxpayer. But, how does a taxpayer navigate the audit process and challenge a tax assessment?
Let’s take a look at the basics. Read More ›
Categories: Sales Tax, Use Tax
Tug Boat Case Clarifies Bounds of Use Tax
Suppose you visit your local electronics store and purchase a new TV. You pay for the TV, but notice that the retailer did not charge sales tax. Are you now liable for use tax?
The answer is “no” according to a recent Court of Appeals ruling. Andrie, Inc. v. Department of Treasury. But, let’s look at the details. Read More ›
Categories: Sales Tax, Use Tax
Proposed Legislation Would Eliminate Personal Property Taxes For Most Michigan Businesses
The personal property tax (“PPT”) is one of Michigan’s oldest forms of taxation, dating back to the 1890s. However, during the last decade, the PPT has been a constant source of contention. Advocates include local governments, which argue that the PPT is a vital source of revenue. Opponents include many businesses, which contend that the PPT is a competitive disadvantage and impediment to attracting and retaining businesses in Michigan. Read More ›
Categories: Personal Property Tax
Revamp of Michigan Individual Income Tax Landscape
In 2011, Governor Rick Snyder signed into law Public Acts 38 and 39 of 2011 (the “Act”), which make sweeping changes to Michigan’s business and individual tax landscape.
Relevant to individuals, the Act makes many changes, including taxing income from pensions and other types of retirement plans. This article summarizes the changes applicable to individuals. Read More ›
Categories: Income Tax
Michigan Supreme Court Upholds Taxation of Public Pensions, But Strikes Down Graduated Income Tax
In 2011, Public Act 38 was signed into law. Prior to Public Act 38, public pension benefits were completely deductible, private pensions were deductible up to $45,120 (for a single filer), and all taxpayers were entitled to a personal exemption of $2,500.
Public Act 38 changed that as follows: Read More ›
Categories: Income Tax
Officers Beware! Personal Liability for Unpaid Sales and Use Tax
Most business owners are familiar with the concept of "piercing the corporate veil" – that legal theory whereby owners and officers may be personally liable for the obligations of a corporation. However, personal liability may also be imposed in the sales and use tax arena. Read More ›
Categories: Sales Tax, Use Tax
Proposed Corporate Income Tax Credit For Hiring Veterans
In 2011, the Michigan Corporate Income Tax ("CIT") was signed into law. The CIT repealed the Michigan Business Tax and replaced it with a flat 6% tax on businesses that are taxed as C corporations for federal income tax purposes. Read More ›
Categories: Corporate Income Tax, Income Tax
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