Most of these touch the money you take home at closing, so it helps to know them before you sign a letter of intent. The overall order of events is on our how a sale works page.
If your company is based outside Michigan, your own state's rules apply instead.
Michigan Flow Through Entity Tax in the Year You SellWhat Michigan's elective flow through entity tax is, why the year you sell your S corporation or LLC matters for it, and the questions to put to your CPA.Michigan Form 163: Closing Your Tax Accounts After a SaleHow to tell Michigan Treasury you sold your business with Form 163, which accounts it closes, the final returns you still owe and how it ties to tax clearance.Michigan Sales Tax on the Business Assets You SellWhen Michigan's 6 percent sales tax applies to equipment, fixtures, inventory and vehicles in a business sale, and how the isolated sale rule usually helps.Michigan Tax Clearance: Form 5156 and the Buyer's EscrowWhy a buyer holds back part of your sale price in Michigan, how Form 5156 gets you a tax clearance certificate, and how to time it around closing.Michigan Liquor License Transfer When You SellHow a Michigan liquor license moves to the buyer of your bar, restaurant or store: Liquor Control Commission approval, fingerprints, escrow and local rules.The UIA 1027 Notice You Owe the Buyer Before ClosingWhat Michigan's Form UIA 1027 is, what it tells the buyer about your unemployment tax account, when it is due before the transfer and what happens to your rate.