Brief Insights | Meeting Provider Relief Fund Reporting Requireme...
VIEWpoint Issue 2 | 2021
2021-2022 Tax Planning Guide
Proposed Regulations for Inherited IRAs Bring Unwelcome Surprises
CFPB’s Approach to Regulations
How To Identify Your Accounting Software Budget in 3 Easy Steps
At the end of 2021, the State of Michigan amended the Income Tax Act to create a flow-through entity tax. As a result, S corporations and most partnerships can now elect to pay income tax at the entity level. Further benefits of the new election include:
If your business decided to reap the benefits of this election and is a calendar-year taxpayer, the second quarter estimate is coming due on June 15. Be sure to make this payment via the Michigan Treasury Online to avoid any penalties. For more information on payment, read the Instructions for Electing Into and Paying Flow-Through Entity Tax.
Doeren Mayhew’s tax professionals recommend paying your estimate at least one business day before the June 15 deadline to ensure it is processed on time. If you have questions about calculating and paying the upcoming estimate, contact us today.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
A quick registration is required to view our resources.
You will only be asked to do this one time (unless you don't save your browser cookies).