Michigan tax update

Updates on Michigan tax issues involving CPAs and their clients have been introduced. Changes in the Single Business Tax sales factor by 1999 will start in 1997 and property placed in service outside Michigan will no longer be eligible for CAD after Dec. 31, 1996. Court ruling in the Elias Brothers Restaurant case has entitled company-owned restaurants to the industrial processing use tax exemption for equipment and supplies used in business.
The following update addresses some current Michigan tax issues affecting CPAs and their clients: Single Business Tax SBT Changes Begin in 1997 Legislation phasing in a 90 percent weighting of [...]