After advising on Crain's Detroit Business' "Deal of the Year Under 100 Million" in 2015, UHY Advisors' Corporate Finance was also recognized for both buy-side and sell-side support on five other deals that made Crain's List of Largest Mergers and Acquisitions of 2015
The General Sales Tax Act exempts the "sale of rolling stock purchased by an interstate motor carrier or for rental or lease to an interstate motor carrier and used in interstate commerce." The Use Tax Act exempts "the storage, use, or consumption of rolling stock used in interstate commerce and purchased, rented, or leased by an interstate fleet motor carrier."
Statements and reports for domestic and foreign limited liability companies and professional limited liability companies must be filed online by Feb. 15, 2016, or if mailing instead, received by Feb. 15. A $50 late filing penalty will be assessed for 2016 annual statements and annual reports received after Feb. 15.
All sales tax and use tax filers must file the annual return, Form 5081, for each year even if no tax is due. For taxpayers who submit monthly or quarterly returns, Form 5081 balances the tax due for the year with the monthly or quarterly payments made during the year.
Projects like building the Detroit Red Wings a new stadium in downtown Detroit, take a lot of hours and manpower from local construction contractors, and could end up costing them in the long run, especially contractors in the immediate area. After breaking ground in 2014, crews are on-site working six days a week to ensure that the arena will be ready to host Red Wings fans along with fans in the away colors by 2017.
UHY Advisors, Inc. (“UHY Advisors”), one of the nation’s leading professional services firms, announces the appointment of five new managing directors: Brad Baer, Harold Mohn, Robert Scope, Mehmet Sengulen and Aaron Witalec. Scope and Witalec are both from the Michigan practice.
Michigan's personal property tax reform continues Jan. 1, 2016, with the most significant changes for taxpayers with eligible manufacturing property.
As of Dec. 31, 2015, the General Property Tax Act provides an exemption from tax for qualified new personal property and qualified previously existing personal property for eligible manufacturing personal property (EMPP). EMPP is defined as "...all personal property located on occupied real property if that personal property is predominantly (greater than 50 percent) used in industrial processing or direct integrated support."
For the second consecutive year, UHY LLP sponsored the Distinguished Clown Corps float in the 89th America's Thanksgiving Parade. Over 70 feet long and standing 17 feet tall, the DCC float is the centerpiece of the 180+ Distinguished Clowns greeting and entertaining hundreds of thousands of spectators.
The Department of Treasury has announced for transactions occurring on and after Oct. 1, 2015, out-of-state retailers are required to remit sales or use tax on sales into Michigan if the seller has nexus under affiliate and click-through nexus requirements.
Over 20 employees from UHY LLP, certified public accountants, in conjunction with UHY Cares, the firm’s nonprofit 501c3 organization, teamed up with others from Citizens Bank to teach the Junior Achievement Program to over 400 students from kindergarten to fifth grade at the Academy of Warren. The Academy of Warren represents a collaborative community of teachers, school administrators and the Parent Advisory Board (PAB), all with a common goal of seeing the students succeed and creating “worlds of opportunity” for each student.