Cost: Free to attend (after attending we will email you a gift card to purchase a future meal)
Registration
Please RSVP to program facilitator Mary Owiesny at mowiesny@honigman.com. After receiving your registration, you will be sent a Zoom invitation to attend the webinar.
Webinar Overview
Signed legislation on December 20, 2021, allows Michigan pass-through entities to make an election to pay a newly enacted 4.25% income tax and for the owners of those entities to claim a tax credit against that tax on their Michigan individual income tax returns. The new tax mirrors the so-called State and Local Tax (SALT) cap workaround taxes enacted by several other states that are designed to avoid the $10,000 federal limit on individual itemized deductions for state and local taxes.
This election is available retroactively for tax year 2021.
This webinar provides an overview on Michigan’s New Elective Passthrough Entity Tax, which includes a discussion on the following:
- Mechanics of the New Tax
- How and When to Make Elections
- Special Situations
- Including entities with Corporate Members, potential issues, and other tips.
Presenters
Gregory Nowak, Senior Counsel
Miller Canfield, Troy, Michigan
Nowak@millercanfield.com
(313) 300-6653
Practice Focus—Has over 30years experience and is recognized as one of Michigan’s leading experts on state and local tax issues.
Represented may major companies on multistate tax matters including clients in the manufacturing, retail, and transportation industries, and has litigated and negotiated issues involving all of Michigan’s major taxes and played an active advisory role in most of the significant Michigan tax controversies in recent years.
Ryan J. Riehl, Senior Principal
Miller Canfield, Troy, Michigan
riehl@MillerCanfield.com
(248) 879-2001
Practice Focus—two decades of experience, focusing his practice on a wide variety of federal and state tax issues.
He specializes in partnership taxation; like-kind exchanges and other real estate tax matters, taxation of oil and gas properties, tax planning in connection with business acquisitions, dispositions and reorganizations; private equity transactions; new markets, historic, solar, wind and other tax credit financing transactions; R&D tax credits, as well as international tax issues.
Moderator
BUZZ S. LEACH, JD, LLM, Bleach@smb-t.com
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