Pawnshop

Required State License(s):

A sales or use tax license is required. You may call the Michigan Department of Treasury at (517) 636-4660.

Personalized sales or use tax returns and a payment schedule will be mailed within four to six weeks after the registration has been processed. If you have questions about this process, please call the Michigan Department of Treasury at (517) 636-4730.

State law allows cities to regulate pawnshops. Call your local city clerk's office for further information. You may refer to the MCLA 446.201-446.219.

Possible Licenses:

For installment sales of other products, no license is required, but certain limits apply about the rate of interest that can be charged. Contact the Consumer Finance Division, Office of Financial and Insurance Services at (517) 373-0220.

If a business buys or receives gold, silver, platinum, gems, jewelry and other precious items, a license is required with the local police agency or county sheriff's office.

Revised:  5/2005