Treasury is reviewing the recently enacted tax law changes, including the new Marijuana Wholesale Tax. Developing clear and accurate information for tax stakeholders is our top priority. This guidance will be posted to our website in the coming weeks.
Be aware! Scam text messages are circulating, falsely claiming to be from the Michigan Department of Treasury. These fraudulent messages attempt to deceive you into providing or updating your bank account information. Treasury will never text you for sensitive data. If you receive such a message, do not respond, click any links, or share any information. Delete it immediately.
Marihuana Retailers Excise (MRE) Tax
Homeowner's Principal Residence Exemption
Property Tax Forfeiture and Foreclosure
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Generally, no. The corporate income tax is levied and imposed only on a person that is required or has elected to file federally as a C corporation, or is an insurance company, a financial institution, or a unitary business group. However, an S corporation will be subject to the CIT to the extent that it is a financial institution or insurance company.
An S corporation may be required to withhold on its shareholders.