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Personal Property Tax Credit

The MichiganBusiness Tax is set to expire on December 31, 2011.  Make sure you take advantage of the refundable Personal Property Tax Credit by paying your industrial personal property tax bills before the end of 2011.  The credit for 2011 is 35% of the industrial personal property tax paid. The credit does NOT apply to industrial real property, only to industrial personal property.  Industrial personal property tax bills are generally classed using codes 350-359, 370-379, 950-959 or 980-989 and will have a description such as IND PERSONAL.

Contributor: Robert M. Smith, Bond & Company PLC

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