Michigan's Corporate Income Tax: Latest Developments

Navigating the Latest Transitional Legislation and Administrative Guidance

Recording of a 110-minute CPE webinar with Q&A


Conducted on Tuesday, May 8, 2012

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will analyze the legal and regulatory guidance to date on Michigan's new corporate income tax, providing tax executives and advisors with a much-needed current awareness briefing to anticipate issues for their companies.

Description

In recent months, Michigan officials have kept a brisk pace turning out new laws implementing the 6% corporate income tax launched this year, as well as interpretive guidance. In addition to a host of meaningful technical corrections bills for the new tax, lawmakers adopted an "actively solicits" nexus standard.

The state Treasury Department is expected to release important interpretive guidance soon, and has already published guidance on the new approach to withholding on pension and retirement distributions. Form 4913 quarterly corporate income tax returns and instructions are already available.

C corporations subject to the new Michigan corporate income tax (those with physical presence or soliciting sales in the state, and with $350,000 or more of gross receipts sourced there) must keep up with the latest state law and revenue agency developments as they plan for their first filings.

Listen as our panel of experienced state tax advisors briefs you on the latest, and coming, important actions in Michigan's transition to the corporate income tax.

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Outline

  1. Latest legislation implementing corporate income tax
    1. Long list of technical corrections or fine-tuning bills
  2. Treasury Department guidance
  3. Material terms of new corporate income tax under implementing legislation (House Bills 4361 and 4362)
  4. Quarterly corporate income tax return (Form 4913) and instructions
  5. Key state tax compliance and planning issues going forward
    1. Choice of corporate income tax or MBT tax base
    2. Different approach to apportionment
    3. Tax credits: Whether to preserve current credits

Benefits

The panel will explore these and other significant events:

  • Review of recent or anticipated Treasury Department guidance.
  • Analysis of the numerous technical corrections bills, and which terms may affect your company.
  • Treasury interpretive guidance on withholding and other topics.
  • An overview of the corporate income tax enabling legislation.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Steven Grob
Steven Grob

Member
Dykema

His practice covers general tax law including federal and state tax litigation for corporations, partnerships and LLCs,...  |  Read More

Angela Acosta
Angela Acosta
Senior Manager
Grant Thornton

She is assigned to the firm's State and Local Tax Practice and has 17 years of tax practice at Grant Thornton, a...  |  Read More

Tom Cornett
Tom Cornett
Senior Manager
Deloitte Tax

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