Personal, Property and Sales Tax in the State of Michigan are all at business-friendly rates. Personal income tax has one of the lowest rates in the country and automatic tax exemptions cut property taxes for industrial businesses by 65% and 23% for commercial business. For industrial and high-tech companies, 50% abatements for up to 12 years are available. Additionally, there is now sales tax charged on manufacturing machinery and equipment, electricity and natural gas used in production, or pollution control equipment. Learn more here. St. Ignace is also eligible for additional tax abatements; click here for more information.
Pollution Control Equipment Tax Exemption, with the Michigan Department of Environmental Quality’s certification, air and water pollution control equipment is 100% tax exempt.
Standard and Rural Job Creation Tax Credits against the Michigan Business Tax are available to a wide range of companies that create 50 new jobs by the first year of credit. Mackinac County qualifies for Rural Michigan Economic Growth Authority (MEGA) tax credits, which require “five new jobs by the first year of credit, and 25 new jobs by the fifth year.” Learn more here.
Michigan’s overall business tax climate ranking is now 13th in the U.S., according to the Tax Foundation. In isolating the corporate tax rankings, the Foundation’s Michigan ranking jumps to 22nd from the previous level of 48th.
Our local branch of Michigan Works! has many resources for employers, including an online data base developed to help you find the right employees, screening and recruiting services, and help with employment tax credits.
Job Training Grants focused on assisting companies in meeting their talent needs.
The Mackinac Economic Alliance can help your company take advantage of all these resources. Our complimentary and confidential research, information, and networking services are available to all businesses looking to Mackinac County for a home.