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Contact Information:
Edward S. Kisscorni, CPA
290 Suncrest Court, SW
Grandville, MI 49418

Office: 616/233-0667
Cell: 616/443-6730
Fax: 616/233-0667




Tuesday, April 03 2012

Deferment Also Available for Limited Liability Companies


Public Act 57 of 2012, effective March 22, 2012, provides that a partnership is allowed to defer local Michigan summer property taxes on agricultural property it owns if the gross receipts of the agricultural or horticultural operations in the previous year or the average gross receipts of the operations in the previous three years are not less than the household income of the owner in the previous year or the combined household incomes in the previous year of the partners of the partnership that owns the agricultural real property.  In addition, the individual partners must have qualified for deferment before the partnership was formed.  This deferment is also available for limited liability companies.



Posted by: Ed Kisscorni AT 01:00 am   |  Permalink   |  0 Comments  |  Email

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