Below is information about MICHIGAN SINGLE BUSINESS TAX CORPORATE OFFICER LIABILITY from a variety of sources. Please take a look at the materials that our team has selected for you.
https://www.michigan.gov/taxes/coll-audit/collections/corporate-officer-liability-frequently-asked-questions
Corporate Officer Liability (COL) refers to holding an individual (an officer, member, partner etc.,) of a corporation personally liable for unpaid tax debts accrued by a corporation. When a corporation fails to file returns or pay taxes due, the Michigan Department of Treasury, Office of Collections, will attempt to collect the debt from any individual who the Department has …
https://www.michigan.gov/taxes/questions/collections/corp
"If a business liable for taxes administered under this act fails, for any reason after assessment, to file the required returns or to pay the tax due, any of its officers, members, managers of a manager-managed limited liability company, or partners who the department determines, based on either an audit or an investigation, is a responsible ...
https://ayarlaw.com/michigan-corporate-officer-liability/
The Corporate Officer Liability in the State of Michigan begins when a corporation fails to file returns and/or pay taxes due to the State of Michigan. Department of Treasury staff will perform an investigation so they can identify who may be held personally liable for the corporation’s failure to file returns and/or pay off their debts.
https://www.algtaxsolutions.com/services/tax-resolution-services/mi-corporate-officer-liability
Michigan Corporate Officer Liability means you personally owe unpaid Michigan business taxes. This occurs when your business fails to either file business tax returns or pay business taxes. Corporate officer liability applies to trust taxes only: payroll, use, sales, and tobacco taxes. Michigan Corporation Officer Liability Investigation. The State of Michigan may assess …
https://www.michigan.gov/treasury/reference/letter/2002-letter-rulings/2002/lr-2002-04-single-business-tax-officer-compensation
This Letter Ruling explains the Single Business Tax treatment of officer compensation in the context of leased employees serving as managers of a limited liability company (LLC) or officers of a corporation. The Single Business Tax Act requires that compensation be included in the taxpayer's Single Business Tax base. MCL 208.9 (5). The Act defines "compensation" to …
https://www.michigan.gov/treasury/0,4679,7-121-44402_44422_44423-18167--,00.html
This Letter Ruling explains the Single Business Tax treatment of officer compensation in the context of leased employees serving as managers of a limited liability company (LLC) or officers of a corporation. The Single Business Tax Act requires that compensation be included in the taxpayer's Single Business Tax base. MCL 208.9 (5). The Act …
https://www.wtaxattorney.com/michigan-corporate-officer-liability-process/
The Michigan Corporate Officer Liability process begins when a corporation fails to file returns and/or pay taxes due to the State of Michigan. Department staff will perform an investigation in order to identify all individuals who may be held personally liable for the corporation’s failure to file returns and/or submit payment under MCL 205.27a Subsection (5).
https://www.michigan.gov/treasury/0,4679,7-121-1557-18167--,00.html
This Letter Ruling explains the Single Business Tax treatment of officer compensation in the context of leased employees serving as managers of a limited liability company (LLC) or officers of a corporation. The Single Business Tax Act requires that compensation be included in the taxpayer's Single Business Tax base. MCL 208.9 (5). The Act defines "compensation" to …
https://www.michigan.gov/documents/treasury/SBT_2002-2003_061109_282252_7.pdf
• The Single Business Tax (SBT) was repealed effective December 31, 2007 and replaced by the Michigan Business Tax. • The Single Business Tax (SBT) was a modified value-added tax (VAT). A pure VAT’s tax base equals the value a firm adds to its products. Unlike a pure VAT, the SBT provided several exemptions from and deductions to value added.
https://www.michigan.gov/taxes/business-taxes/cit/detail/filing-requirements
Estimated Returns and Payments. Corporate, financial institution and insurance company taxpayers that reasonably expect to have a liability of more than $800 for the tax year must make quarterly estimated payments and returns. Each payment must approximate the taxpayer's tax liability for the quarter or 25% of estimated annual liability.
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