LANSING, Mich. –- (RealEstateRama) — Employers with eligible manufacturing personal property can now file for tax exemptions until May 31, 2017, under legislation signed today by Gov. Rick Snyder. Manufacturing personal property is defined as personal property located on land used for industrial processing.
“This will help improve tax processing for employers, making it easier for them to take advantage of exemptions for personal property they purchase and use in order to run their business,” Snyder said.
Senate Bill 359, sponsored by state Sen. Dave Hildenbrand, amends the General Property Tax Act to give companies more flexibility to file their exemptions this year by extending the filing deadline from February 21 to May 31, 2017. This extended deadline is only available in 2017. It is now Public Act 42 of 2017.
For more information on this and other legislation, visit www.legislature.mi.gov.