The right business climate can turn big ideas into big profits. From creative incentives to affordable real estate and trade networks, West Michigan supports every aspect of business. The Right Place works with state and local partners to tailor high-impact incentive packages that include financing, local tax incentives, and workforce development.
The new Michigan Business Tax (MBT) provides credits for small business, entrepreneurs and others, while crediting expenditures on:
In fact, nearly 7 out of 10 Michigan businesses will receive a tax cut under this new business tax system.
- Business income taxed at a rate of 4.95%
- Modified gross receipts tax (sales minus purchases from other firms) at a rate of 0.8%
- Banks pay alternate net capital tax (net worth at a rate of 0.235%)
- Insurance tax rate increased from 1.07% to 1.25% (current credits retained)
- Investment tax credit for purchase of capital assets
- Compensation credit for jobs created or retained
- Research and development credit
For more information on the Michigan Business Tax and available credits, see the Michigan Department of Treasury's MBT web page.
Contact our business development team to learn more about how West Michigan supports every aspect of your business.
- Susan Jackson
Vice President, Business Development
616.771.0556 - Rick Chapla
Vice President, Urban Redevelopment
616.771.0328 - George Bosnjak
Business Development Manager
616.771.0326
© 2009, The Right Place, All Rights Reserved.
161 Ottawa Ave NW, Suite 400 | Grand Rapids, MI 49503-2701 | Phone: 616.771.0325 | Fax: 616.771.0555 | Email: info@rightplace.org | Directions
The Right Place, Inc. a non-profit economic development organization, promotes the economic growth of Greater Grand Rapids, Michigan.