Partner UI News: Michigan Taxable Wage Base for 2015 Updated
Barnett Associates, a key strategic WMS partner and expert in Unemployment Cost Control provides update regarding Michigan taxable wage base for 2015.
Beginning with the third quarter of 2015, the TWB – the maximum annual wage on which an employer must pay unemployment taxes – will be lowered from the current rate of $9,500 to $9,000. This means that non-delinquent contributing employers will pay less in unemployment taxes for the upcoming quarters.
In 2011, measures were taken by Michigan’s legislature that aimed to ensure adequa...
Michigan Moves to Exempt Business Property From Personal Property Tax
As of January 1, 2015, Michigan eligible industrial and commercial personal property will be exempt from personal property tax. Michigan voters approved the measure on August 5, 2014, allocating a portion of the state use tax to fund the elimination of the personal property tax on eligible industrial and commercial personal property. The reduction in the state portion of the use tax has been replaced with a local community stabilization share of the tax to fund the exemption of eligible industrial and commercial personal property from the personal property tax.