Chris Holman talks with Mike Johnston who is the Vice President of Government Affairs for the Michigan Maufacturers Association. The Michigan Maufacturers Association (MMA) is reminding the manufacturing community that a filing period is underway. File for your share of a $576 million annual tax cut – the result of MMA’s hard-fought elimination of the Personal Property Tax (PPT) on manufacturing equipment, a primary barrier to competitiveness for many employers.  The exemption form 5278 filing deadline is Tuesday February 21, 2017.

This tax cut requires manufacturers to take proactive steps and meet very specific deadlines to claim the exemption. The process includes paying a small assessment, the Essential Services Assessment, to the State to help reimburse local units for the elimination of the PPT and which must be paid by August 15.

Again,this tax cut does not occur automatically, you must act before February 21, 2017.

For more information please see the MMA website at https://mimfg.org/

For more knowledge, news, and insights visit:

michiganbusinessnetwork.com

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