TDA Insurance Blog
Are you on top of Tax and Payment Laws? Get up to date and protected with our Payroll Services, Michigan!
1/6/2012 8:04:15 AM
Do you plan to set up a business in 2012? Perhaps you will be employing a number of staff. Have you considered how to manage payroll services? Our Michigan insurance agency may be able to help. It can be hard to grasp tax law and be confident that you are fully compliant when there are so many other things required to get a new business up and running. Here are some of the basics you will need to know as a Michigan employer:
• In 2011, Michigan changed its Single Business Tax in favor of a Michigan Business Tax. You might have to pay less business tax as a result
• Minimum wage in Michigan is currently $7.40 an hour. You will be obliged to pay at least this sum if you have two or more staff. There are exceptions to this rule which currently include:
o People under 18 or over 64
o People employed to pick fruit or tomatoes
o Farm workers employed to help with the harvest on a piecework contract
o People employed at a summer camp for under four months
This simple outline is intended to give you a sample of some of the areas to consider in setting up a payroll. As a new business owner, you are likely to have a lot on your mind, but it is your responsibility to keep on top of the laws and regulations that affect your enterprise. Perhaps it might be worth investing in professional payroll services. Michigan business owners can contact us for further information on these services!
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