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How much is Michigan self-employment tax?

How much is the self employment tax for Michigan? Michigan self employment tax is an amount paid to cover Social Security and Medicare, to a total of 15.3%. Social Security is 12.4% and Medicare is 2.9%.

Who has to pay personal property tax in Michigan?

If youre a business owner in Michigan, and youre not exempt, youll have to pay Personal Property tax for the furniture and equipment you own. This means youll have to file a Personal Property Tax Statement to let the Assessor know the value of your property.

What is the ESA tax in Michigan?

The Essential Services Assessment (ESA) is a state specific tax on eligible personal property owned by, leased to or in the possession of an eligible claimant.

What is form L 4175 Michigan?

Form L-4175 is used for the purpose of obtaining a statement of assessable personal property for use in making a personal property assessment.

What is the point of personal property tax?

One method that states can use to raise revenue is to charge you a tax on your personal property. This type of tax is separate, and may be in addition, to the state and local taxes you pay on your real estate.