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Thread summary:

Michigan taxes: market, bank, find a job, budget, account information.

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Old 09-24-2008, 06:27 PM
 
Location: West Michigan
12,083 posts, read 38,868,928 times
Reputation: 17006

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Quote:
Originally Posted by One Thousand View Post
I don't know why you whack-jobs are getting so personal. All I'm asking is if there are any references to contradict Morris' opinion.

Please cite one if it's available.
Oh you slipped, that is about 2nd grade level.... Better luck on your next reply though!

Oh yeah, and there were references posted, you chose not to look at them or accept them. Not up to us at this point. Up to you to present references to support Morris now.
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Old 09-24-2008, 06:52 PM
 
Location: Grand Rapids Metro
8,882 posts, read 19,861,925 times
Reputation: 3920
Quote:
Originally Posted by One Thousand View Post
State references. (I hope you don't trust the media!)

I would expect there's a record of businesses closing down vs. opening.
Huh?

Your quote:

Quote:
Originally Posted by One Thousand View Post
Why aren't new businesses starting or moving to MI? With the location, it seems like it'd be great for everything.
I answered that there are businesses "starting", "moving" and "expanding", and gave some examples. Most of the links I provided were actually stories bases on actual press releases from the companies themselves. I would assume the companies themselves know even more than the state. There's no way the regular media would make up stuff that made things look better than it is. Quite the contrary actually.

But if you absolutely must have a state source, here ya go:

http://www.wxyz.com/mostpopular/stor...1-d9189f33e3d4

Here's another jobs article:

http://www.mibiz.com/absolutenm/templates/inthenewstemplate.aspx?articleid=14333&zoneid=25 (broken link)
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Old 09-24-2008, 07:37 PM
 
Location: At my computador
2,057 posts, read 3,414,780 times
Reputation: 510
Does the state not produce statistics on starting and closing businesses? That's what I'm asking.
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Old 09-24-2008, 08:11 PM
 
Location: Grand Rapids Metro
8,882 posts, read 19,861,925 times
Reputation: 3920
Quote:
Originally Posted by One Thousand View Post
Does the state not produce statistics on starting and closing businesses? That's what I'm asking.
Probably not. A lot of business ventures are started as LLC's, but there's no telling whether it's an independent contractor registering an LLC, or a developer working through a project (they usually name each project differently), or a number of other reasons to form an LLC that have nothing to do with company startups.

Unless a company is requesting tax credits, the state can't possibly track who is adding employees or adding square footage, or scaling back operations. Mass layoffs have to be announced by law, but that's mainly large employers like GM, Delphi, etc.. But if a drywaller closes his doors, I don't think he'd have to let the state know.

Here's a chart by the Bureau of Labor Statistics (Federal) which shows the effects of globalization on manufacturing in Michigan:

http://farm4.static.flickr.com/3230/...a9d53736_o.jpg

Starts in 2001, 6 years before the income tax increase.

Here's a chart showing Education and Health Services jobs in that same period:

http://farm4.static.flickr.com/3173/...435be79f_o.jpg

Here's are a couple more news releases:

http://www.uni-solar.com/uploadedFiles/MediaCenter/FeaturedNews/UnitedSolarOvonic-GV%20Hiring_FINALv01mt%20_2_%20_2_.pdf (broken link)
http://www.mlive.com/business/chroni...230.xml&coll=8
http://www.mlive.com/businessreview/...er_tax_br.html

As I said, yes, there are companies expanding and moving into Michigan.

Last edited by magellan; 09-24-2008 at 08:25 PM..
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Old 09-24-2008, 08:53 PM
 
Location: At my computador
2,057 posts, read 3,414,780 times
Reputation: 510
Quote:
Originally Posted by magellan View Post
But if a drywaller closes his doors, I don't think he'd have to let the state know.
Thanks for the response. I have no challenge to everything else you said, but from personal experience, you are required to notify the state when you shut down even when you're operating under a dBa.
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Old 09-24-2008, 09:09 PM
 
Location: Grand Rapids Metro
8,882 posts, read 19,861,925 times
Reputation: 3920
Quote:
Originally Posted by One Thousand View Post
Thanks for the response. I have no challenge to everything else you said, but from personal experience, you are required to notify the state when you shut down even when you're operating under a dBa.
I doubt that happens. I've held probably 4 or 5 LLC's for different contracted work and never told the state what I was doing (using them or not). I always payed taxes that I owed, but I don't remember any reporting as far as staffing goes. Many Realtors, for instance, use LLC's if they get a broker's license and have agents working for them.

I think a more interesting stat would be how many 1099's have been issued in the last few years. I know a lot of people who don't want to be classified as employees and do all contract work.
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Old 09-24-2008, 09:31 PM
 
Location: At my computador
2,057 posts, read 3,414,780 times
Reputation: 510
Quote:
Originally Posted by magellan View Post
I doubt that happens.
From the treasury website: You must notify the Registration Section of the Michigan Department of Treasury by completing a Notice of Change or Discontinuance, Form 163, or by sending a letter that includes all discontinuance and account information. Mail Form 163 or your letter to...

Taxes - Tax Clearance

If you're using a sales tax ID, you must also notify for that.
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Old 09-24-2008, 09:57 PM
 
Location: At my computador
2,057 posts, read 3,414,780 times
Reputation: 510
I may not have been clear earlier, I was asking about business growing/starting compared to those leaving. Is there a positive gain in business?

Also, during my own research, I came across a couple other things:

MI's state budget is not balanced.

http://www.mlive.com/elections/index.ssf/2008/06/john_gleason_we_knew_wed_have.html (broken link)

The old 2006 and prior tax rate was 3.9% NOT 3.99% as stated by the obnoxious lady (stretching the use of lady I know). So the increase was .11% for 07 not .02%

http://www.michigan.gov/taxes/0,1607...7505--,00.html

As I stated earlier, I don't care much about it... but it goes to show that everyone has an opinion.

Last edited by One Thousand; 09-24-2008 at 10:16 PM.. Reason: fiksin linx
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Old 09-26-2008, 06:05 AM
 
66 posts, read 236,419 times
Reputation: 42
Michigan's government doesn't produce anything worth reading. Bloated with minorities that otherwise couldn't find a job, the gubmint in Lansing puts out publications such as "How to Axe your Legislashure a Queshon". Don't expect them to have a clue what you are talking about if you were to inquire about business flow.
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