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Michigan levies a single business tax on corporations in the state and only
adds on a 0.8% gross receipts tax on top of it. Michigan personal income
tax is fairly mild as well at only 4.35%. Yet the Tax Foundation's Corporate
Income Tax Ranking gives Michigan a 49. View all the regulations
for incorporating in Michigan. Nevada is ranked 1 on this measure with
no corporate sales tax at all. There are also far better asset protection
benefits for Nevada corporations. You're your business or LLC could stand
to gain a lot by incorporating in Nevada rather than Michigan:
| |
Nevada |
Michigan |
|
State Corporate Income Tax ? |
None |
4.95% |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
49 |
Personal Income Tax ? |
None |
4.35% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
14 |
Franchise Tax ? |
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Tax on corp shares ? |
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Gift Tax ? |
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Unitary Tax ? |
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Estate Tax ? |
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Statutory Indemnification of Officers, Directors & Employees ? |
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Charging Order Protection for Corporation ? |
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Charging Order is Creditor's Sole Remedy for LLC or Corporation ? |
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Highest Standard of Corporate Veil Protection ? |
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Series LLC Allowed ? |
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Business Court* |
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Glossary of terms
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