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What is the filing threshold under the Michigan Business Tax Act (MBTA)?

April 26, 2017ACT Business filing MBTA Michigan tax threshold

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What is the filing threshold under the Michigan Business Tax Act (MBTA)?

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Section 505(1) (MCL 208.1505(1)) of the MBTA directs that a taxpayer, other than an insurance company or financial institution, whose apportioned or allocated gross receipts are less than $350,000.00, does not need to file a return or pay the tax imposed under the MBTA. An insurance company, regulated by chapter 2A of the MBTA, does not have a filing threshold regarding its liability to pay the tax on gross direct premiums written on Michigan property or risk. Likewise, a financial institution, regulated by chapter 2B of the MBTA, does not have a filing threshold regarding its liability to pay the franchise tax on its net capital.