https://fairviewfun519.wpengine.com/wp-content/uploads/2017/05/fairview-fund-admin-logo-300x74.jpg 0 0 Paul Mark https://fairviewfun519.wpengine.com/wp-content/uploads/2017/05/fairview-fund-admin-logo-300x74.jpg Paul Mark2012-03-29 23:21:002012-03-29 23:21:00Michigan: Revised Notice on Michigan Business Tax Treatment of Disregarded Entities Reflects Recently Enacted Legislation
Notice to Taxpayers Regarding Federally Disregarded Entities and the Michigan Business Tax, Mich. Dept. of Treas. (issued 11/29/10; revised 4/30/11; revised 10/3/11; revised 11/15/11; revised 1/26/12). The department has once again updated its notice on the Michigan Business Tax (MBT) treatment of federally disregarded entities to include legislative amendments that were enacted on December 27, 2011 [See previously issued Multistate Tax Alert for more details on this new law], which clarified the manner in which a federally disregarded entity is treated for MBT purposes. The new law clarification is retroactive to January 1, 2008, and provides that a “person” that is a disregarded entity for federal income tax purposes under the Internal Revenue Code shall be classified as a disregarded entity for MBT purposes.