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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Yes. MCL 206.655 requires a financial institution to compute its net capital tax base "by adding the financial institution's net capital as of the close of the current tax year and preceding 4 tax years and dividing the resulting sum by 5." This look-back period will require taxpayers to use data from MBT years for the first 4 tax years under the CIT.