{ Banner Image }

New Michigan Corporate Income Tax Seminar

December 7-8, 2011, 9:00am EST
Grand Rapids, Novi and Lansing, MI

Sponsor: Michigan Chamber of Commerce

New Corporate Income Tax Seminar

Michigan will have a new corporate income tax structure January 1, 2012. Attend this comprehensive, one-day seminar in December to learn more about who it affects and how it works.


Agenda

Who is Subject to the Tax

  • Taxable Persons
  • Disregarded Entities
  • Nexus

Tax Base

  • Calculation of Tax Base

Small Business Credit Rules Apportionment

  • 100% Sales Factor
  • Sourcing of Receipts from Tangibles
  • Sourcing Receipts from Services
  • Sourcing Receipts from Intangibles
  • Special Rules for Income from Flow-Through Entities

The Unitary Business Group

  • Definition of Unitary Businsess
    • Control Test; Relationship Test; Examples
  • Finnegan Standard for Calculation of Sales Factor
  • 80/20 Companies
  • Foreign Dividends
  • Elimination of Intercompany Transactions
  • Denial of Deductions From Nonunitary Affiliates

Loss and Credit Carryovers

  • Michigan MBT Credit Carryforwards
  • Michigan MBT Loss Carryforward

Certified Credits and the Opt-out

  • MEGA, Brownfield and Renaissance Zone

Withholding for the CIT

  • Withholding base
  • Return Dues Dates

Accounting Standards Implications

  • FAS 109 & FIN 48

Administration of the MBT

  • Return Due Dates, Estimates and Extensions
  • Penalties, Interest and Transition Rules
  • Guidance Issued by the Department of Treasury
  • Future Guidance Planned
  • Summary of CIT Legislative Changes Since Original Enactment
  • Summary of CIT Proposed Legislation
  • Potential Areas for Litigation

Speakers

  • Lynn A. Gandhi,a Partner in Honigman's Tax Appeals Department, advises clients nationwide on multistate tax strategies, resolving tax disputes and litigating state tax cases. She focuses on managing businesses overall state tax burden and effective rate for multinational business enterprises. She is a Certified Public Accountant recognized in Michigan and Illinois 
  • June Summers Haas is a partner with Honigman in the firm's Lansing office, where she specializes in advising clients on a nationwide bases on multistate tax strategies, resolving tax disputes and litigating state tax cases. She was Michigan's Commissioner of Revenue for three years

Registration

Register at michamber.com/events