Michigan Department Of Revenue, Michigan Tax

Michigan Business Corporate Tax, Michigan Personal Income Tax, Michigan Sales Tax Rates

What is the Michigan corporate net income tax rate?

4.95% plus a modified gross receipts tax of .8% of sales minus purchases from other companies.

What is the Michigan personal net income tax rate?

4.35%

There are also a lot of local income taxes with an average rate of .44%.

What is the average Michigan sales tax rate?

Are there standard deductions?

Single: none
Joint: none

Are there personal exemptions?

Single: $3500
Dependants: $3500

What forms do you file for your Michigan taxes?

C corporations: Form 4567
S corporations: Form 4567
Partnerships: Form 4567
Individual: Form MI-1040

Estimated tax payments?

Form 4548 if Michigan Business tax (MBT) is expected to be $800 or more. Michigan follows the IRS standards for estimated payments. If you will owe $500 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year. Individuals file form MI-1040ES.