The Impact of Michigan’s New Franchise Tax on Financial Institutions
Author: Giles Sutton.; Steve Ryan.; Jamie C. Yesnowitz.; Terry F. Conley.
Source: Volume 21, Number 04, March/April 2008 , pp.11-19(9)
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Abstract:
With the new rules contained within the Michigan Business Tax, tax departments in financial institutions may have to make some determinations based on imperfect information, realizing the decisions that are made will be scrutinized by financial statement auditors as well as state tax authorities.Keywords: Business apportionment; nexus; market-based sourcing
Affiliations:
1: Grant Thornton LLP; 2: Grant Thornton LLP; 3: Grant Thornton LLP; 4: Grant Thornton LLP.