AudioDigest*

Michigan: Motoring past the single business tax

In this podcast, Michigan House Representative and chairman of the Michigan House Tax Policy Committee Steven Bieda and PricewaterhouseCoopers' Michigan state and local tax leader Greg Nowak address Michigan's two-pronged tax, based on modified gross receipts and business income, that replaced the single business tax at the end of 2007.

The tax is imposed on both corporate and non-corporate entities, requires unitary combined reporting, provides for market-based sourcing, includes expanded nexus standards, and is tied to significant property tax relief. The speakers provide insight, analysis, and explain the implications of the new tax regime.

As evident by taxpayers in Ohio and Texas, the enactment of a receipts-based tax poses a unique set of challenges to taxpayers. Listeners will be able to evaluate the impact it may have on their business operations and financial reports. Insights on what may appear to be minor provisions, but which may have a major impact on organizations, will also be provided.

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