Michigan Personal Property Tax Reform
Posted by Lake Superior Community Partnership on January 12, 2015
In an ongoing effort to make the state a more attractive place for businesses to invest and grow, Michigan is phasing out its Personal Property Tax (PPT) for most businesses beginning in 2014. This reform will substantially reduce compliance and administrative costs for businesses and will be especially attractive to manufacturers who rely on on expensive capital investments in tools and other equipment.
Below you’ll find a memo from Michigan Manufacturers Association (MMA), a fact sheet from the Michigan Economic Development Corporation (MEDC), the recently adopted form 5201 and affidavit form 5076 that will help your business navigate this new reform.
Form 5076 (filing deadline: February 10)
Please contact our Business Development team if you have any questions.
