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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Under MCL 206.623(3), the tax base of a unitary business group is the sum of the business income of each group member minus any income and related deductions arising from inter-group transactions. Certain additions and subtractions to business income are outlined in MCL 206.623(2) and must be made before allocation or apportionment to arrive at the unitary group's income tax base. After the tax base is allocated or apportioned, the tax base is adjusted by available business loss as set forth in MCL 206.623(4). The tax base of a financial institution unitary business group is calculated under MCL 206.655 and 206.657.