Michigan Business Taxes

Training Provided by Lorman Education Services Prevent costly mistakes by learning the essentials of Michigan business taxes - including all the latest updates. Attend this cutting-edge seminar and get helpful insight and recent updates on Michigan's business taxes. You'll gain a clear understanding of the two components of the Michigan business taxes - the modified gross receipts tax and the business income tax. Meet the challenges ahead and find out what you need to know about MBT credit provisions. These are just a few of the valuable tips we'll discuss at this must-attend seminar. You'll acquire the shrewd wisdom and good judgment necessary to succeed - no matter what challenges arise. Don't miss this opportunity to learn to navigate the complex and changing issues surrounding Michigan's business taxes! Benefits for You - Avoid penalties and liability for business tax violations - Get up to speed on Michigan case law related to nexus - Improve your accuracy and efficiency, and stay audit-ready - Ease your worries concerning property taxes and sales and use taxes - Handle audits and appeals confidently and cost-effectively using expert strategies

Michigan Business Taxes Agenda

This seminar will be presented by Adam D. Grant and Robert F. Rhoades.

8:00 am - 8:30 am Registration

8:30 am - 10:00 am Michigan Business Tax

Overview of MBT and Comparisons to the SBT

Two Components of the MBT

- The Modified Gross Receipts Tax and the Business Income Tax

The Modified Gross Receipts Tax

The Business Income

The MBT Surtax

10:00 am - 10:10 am Break

10:10 am - 12:00 pm Definition of the MBT Taxpayer and the Unitary Business Group

- Types of Entities Included and the Unitary Business Group

- Water's Edge Limitations

Nexus

- General U.S. Constitutional Nexus Rules, Due Process, Commerce Clause and PL 86-272, Michigan Case Law and MBT Provisions Concerning Nexus

Apportionment of the Tax Base

- Obtaining the Right to Apportion and How Becoming Taxable Elsewhere Can Reduce MBT

- Single Factor Formula Based on Sales and Assigning of Sales to Michigan

MBT Credit Provisions

- Compensation Credit, Investment Tax Credit and R&D Credits

- Alternative Credit and Phase-In Credit

12:00 pm - 1:00 pm Lunch (On Your Own)

1:00 pm - 2:30 pm Property Tax

Property Tax Reduction Related to MBT

- Exemption of Industrial Personal Property From 18 Mills of School Operating Tax

- Exemption of Industrial Personal Property From 6 Mills of State Education Tax

- Refundable 35 Percent Credit for Property Taxes Paid on Industrial Personal Property

- Exemption of Commercial Personal Property From 12 Mills of School Operating Tax

- Classification Appeals

Property Tax for Michigan Businesses

- The Acronyms: TCV, AV, SEV, TV

- Considerations in Deciding Whether to Appeal a Property Tax Assessment

2:30 pm - 2:40 pm Break

2:40 pm - 4:30 pm Sales and Use Tax

Sales Tax Issues for Michigan Business

- Michigan Sales and Use Taxes and Nexus Issues

- Industrial Processing, Contractor Issues and Officer Liability Issues

Audit and Appeal Issues

- Audit and Assessment and Departmental Review Procedures

- Appeal to the Tax Tribunal and Appeal to the Court of Claims

About The Training Provider: Lorman Education Services

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