Upper Peninsula Power Company
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Upper Peninsula Power Company

Tax Climate

Since the early 1970s, further business tax reductions have been made in every legislative session with significant benefits for all businesses operating in Michigan. In short, Michigan's business taxes are among the lowest in the US.

Major Michigan Business Taxes of Interest

Corporate Income Tax

Base
Rate

 

Value Added
1.9% Single Business Tax

Sales Tax

State Rate
Local Option

 

6%
No

Personal Income Tax

Rate

 

3.9%

Unemployment Compensation

Base
Rate
New Employers

 

$9,000
0.1% - 8.1%
2.7% generally

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