As reported last week, the Michigan Legislature has been working on a package of bills to allow a one-time extension to manufacturers who may have missed the February deadline to file for personal property tax exemptions as well as making a few technical changes.
The four-bill package has been finalized and was sent to the Governor last week; we expect Gov. Snyder to sign the bills relatively quickly. Read more.
If you missed this deadline in February, this is your opportunity to file before May 31, 2016. Treasury has good information if you need it. Even if you did not miss the deadline, but are a manufacturer, we’d suggest you review a few of the technical changes that could be a benefit to you, including better definitions of Fair Market Value of property and property that is considered “construction in progress.”
If you have any questions about this or other tax-related topics, please contact Tricia Kinley at email@example.com.