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The largest tax increase in the proposal is the raising of Michigan's state sales tax from 6% to 7%. [2] [19] An additional law, Public Act 553, passed in December 2014 and taking effect in October 2015, will require certain Internet retailers, such as Amazon.com, to collect Michigan's sales tax at the point of purchase.
Local government cannot impose a sales tax. Michigan raised the sales tax rate to 6% from 4% in 1994. Michigan Ballot Proposal 2015-1, which was opposed by 80% of voters, would have raised the sales and use taxes to 7%. In 2007, Michigan passed a law extending the sales tax to services, but repealed it the day it was to go into effect.
Michigan's 1099-G tax forms are now in the mail after roughly a three-week delay. The forms are needed to complete a tax return.
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
Around June 2011, an updated Form DS-160 was released, providing more clarity that the applicant must self-sign the form, and also clarifying the wording of a few questions and making other form changes. [8] In March 2018, a 60-day notice of proposed information collection was published, describing proposed changes to Form DS-160.
From an entity's perspective, the shift from sales to use tax is the equivalent of shifting from an expense account (profit and loss statement implication) to a liability account (balance sheet implication). To illustrate sales tax, if company XYZ, Inc. purchased $40 of office supplies from an in-state vendor that collected $10 of sales tax:
Form 1040-X (officially, the "Amended U.S. Individual Tax Return") is used to make corrections on Form 1040, Form 1040A, and Form 1040EZ tax returns that have been previously filed (note: forms 1040-A and 1040-EZ were discontinued starting with tax year 2018, but a 1040X may still be filed amending one of these tax forms filed for previous years).
Legally distinct from, but adopted simultaneously alongside the Great Seal in 1835, is the coat of arms of Michigan. The current rendition of the coat of arms was adopted by the Legislature in 1911 (MCL 2.21). It is identical to the Great Seal of Michigan with the legend or circle, "The Great Seal of the State of Michigan, A.D. MDCCCXXXV", omitted.