MBT Tax Elimination: A Win for West Michigan Small Businesses

The reign of terror for small businesses, known as the Michigan Business Tax (MBT), as well as its predecessor the Single Business Tax (SBT), is drawing to a close. With the new corporate tax to be implemented in 2012 small business owners throughout West Michigan are rejoicing.

According to its proponents this new tax policy is less complicated and more competitive business-wise for employers. Exactly what does this mean for West Michigan small business owners? Thousands of businesses will now be exempt from paying business taxes on revenue unless it is considered personal income. Quite simply it means more overall profits for business owners.

With overhauling a tax system comes many changes to your business as well. Contact your professional team immediately—your attorney, your accountant, and your financial planner. If you don’t have a team in place it is highly recommended to find a well organized team of service professionals to ensure you maximize your legal, tax, and monetary benefits under the impending changes.

As Certified Public Accountants serving Grand Rapids small businesses Mierendorf & Co PC believes it is always better to be proactive, rather than reactive, with regards to your businesses’ overall success. Contact us to explain what the new Michigan tax change can do to help your business thrive. We are here to help.

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