For most businesses, a Michigan location means lower taxes compared to other states. Our local business taxes are already below the national average, according to the Council on State Taxation. Motivated by this favorable business environment, several top U.S. companies have recently made major investments in Michigan. They include:
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Google
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Hemlock Semiconductor
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United Solar Ovonic
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Chrysler Group
This year business taxes will drop even further for 6 out of 10 Michigan businesses, thanks to the new Michigan Business Tax (MBT). The new tax provides significant tax credits for investment in human and physical capital in addition to investment in R&D. The MBT cuts industrial personal property taxes by 65% overall and contains a number of credits specifically for small businesses.
Find out more information on the MBT and its credits here.
Additional tax savings are available to companies locating in a Michigan tax-free Renaissance Zone. These tax-free zones are designed to spur investment and have been expanded to support growth in:
We're Here To Help
Assistance is available to companies starting, expanding or relocating to Michigan. Through a wide array of economic development programs and corporate incentives, we foster a vibrant economic environment for the business community. At the same time, these corporate incentives help attract and retain high-quality jobs for Michigan's highly skilled workforce. We have dozens of services and programs to help your business, including corporate infrastucture assistance, business real estate help, corporate relocation services, and corporate incentives.
For further help please contact our Customer Assistance Center.