©2017 Michigan Economic Development Corporation
SPECIAL NOTE: This booklet is offered for archive reasons only for those companies that still have on-going MBT credits. Describes the Michigan Business Tax and credits against it that may be available.
The Michigan Collateral Support Program supplies cash collateral accounts to lending institutions to enhance the collateral coverage of borrowers. To qualify, a business must be engaged with a private lender for the purpose of acquiring a commercial extension of commercial credit and must exhibit a collateral shortfall according to the lender's analysis.
The Michigan Community Revitalization Program (CRProgram) is a new incentive program available from the Michigan Strategic Fund (MSF), in cooperation with the Michigan Economic Development Corporation (MEDC), designed to promote community revitalization that will accelerate private investment in areas of historical declining values, contribute to Michigan’s reinvention as a vital, job generating state, foster redevelopment of functionally obsolete or historic properties, reduce blight, and protect natural resources of this state. The program is designed to provide grants, loans, or other economic assistance for eligible investment projects in Michigan. Generally, no funds will be disbursed until the project is verified as complete.
A 6% Michigan Corporate Income Tax (CIT) will be levied beginning January 1, 2012. The tax will apply to C corporations and any entity that elects to be taxed as a C Corporation. Income will be apportioned based 100% on the sales factor. Corporations with less than $350,000 of apportioned gross receipts or less than $100 in liability will not be required to file or pay the CIT.
The Michigan Defense Center and the Procurement Technical Assistance Centers (PTACs) work together to increase the number of Michigan companies winning federal contracts.
The Michigan Loan Participation Program participates with lenders to finance diversification projects when faced with eligible borrower companies whose projected cash flows are considered speculative by the lender.
The MMTC offers direct technical assistance to small- and medium-sized manufacturers to connect them to the best manufacturing practices and technologies available.
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 expensive capital investments in tools and other equipment.
The Redevelopment Ready Communities® (RRC) Program supports Michigan communities to become development ready, competitive and “open for business.” RRC is a strategic tool leading change in the development culture for communities. It encourages communities to adopt innovative strategies and efficient processes which build confidence among businesses and developers.
Grant funding may be used as a financial incentive to provide assistance to companies for expenses related to skills enhancement of an existing or newly hired workforce. Funding consideration will focus on those projects that demonstrate a significant economic impact and provides transferable skills to trainees. The talent or training gap can be the primary business case for incentive need.
300 N. Washington Sq., Lansing, MI 48913