Why incorporate in Michigan

Business Information & Rankings

Michigan ranked 8^th on the Top States Business Climate Rankings. (Site Selection, 2005)
Michigan ranked 2^nd for New Capital Spending for 2005. (Ernst & Young's U.S. Investment Monitor)
Michigan ranked 5^th as a Small Business-Friendly State. (Small Business & Entrepreneurship Council's Small Business Survival Index, 2005)
Michigan ranks as the leading U.S. automobile manufacturer.

Cost of Living Index

For Grand Rapids, MI (2005):	Index Score
Composite:	100.6
Housing:	88.2
Utilities:	117.5
Misc. Goods & Services:	103.7

Crime Rate

Michigan has the 20^th lowest overall crime ranking in the U.S. However, it ranks 3^rd in hate crimes. (FBI, 2004)

Fees & Taxes

Business Inventory Tax

Business inventory is exempt.

Corporate Income Tax

Michigan charges a Single Business Tax (SBT), which is a modified value-added tax (VAT). The base of the SBT is the difference between a company's sales and the cost of materials. The SBT consists of two brackets. All taxable receipts under $45,000 are not taxed. All receipts over $45,000 are taxed at a 1.9% rate.

Personal Income Tax

Michigan charges a 3.95% flat rate tax (7/2004).

Personal Property Tax

Taxable. Michigan is one of the 38 states that collect property taxes at both the state and local levels. Michigan no longer has an intangible property tax.

State Sales and Use Tax

Base Rate: 6.0%
Machinery Rate: None

There is an exemption for sales to an industrial processor for use or consumption in industrial processing; computers and computer equipment used in operating industrial processing equipment.

Unemployment Insurance

Michigan's new employers' rate is 2.7% for 2 years.

EastBiz.com, Inc.
Our office is located at 5348 Vegas Dr., Las Vegas, NV 89108. About us.

Toll-free: (888) 284-3821
Office: (702) 871-8678
Toll-free fax: (866) 838-0363
Fax: (702) 387-3827

We are a member of the Better Business Bureau and Chamber of Commerce.

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