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This document outlines the policies, procedures, and criteria for granting tax exemptions for new and expanded industrial facilities under Act 198 in the City of Ypsilanti, promoting sustainable economic

How to fill out industrial facilities tax exemption

How to fill out Industrial Facilities Tax Exemption (PA 198)

1. Obtain the Industrial Facilities Tax Exemption application form from the relevant state or local authority.
2. Complete the application form by providing necessary information about the business and the proposed facility.
3. Detail the project's economic benefits to the community, including job creation and investment amounts.
4. Attach any required supporting documents, such as a project plan, financial statements, and a letter of intent.
5. Submit the completed application to the appropriate governing body for review, ensuring to meet all deadlines.
6. Attend any necessary public hearings or meetings to present your case for exemption.
7. Await approval and ensure to comply with any follow-up requirements set by the governing authority.

Who needs Industrial Facilities Tax Exemption (PA 198)?

1. Manufacturers looking to invest in new industrial facilities or expand existing ones.
2. Businesses seeking to reduce property taxes on eligible industrial properties in Michigan.
3. Companies interested in encouraging economic development in specific regions or communities.

People Also Ask about

Is there tax on fabric in PA?

Is PA Tax-Free for Clothing? Pennsylvania is recognized for its tax-free clothing policy, which exempts most everyday clothing items from the state's 6% sales tax rate.

Is there tax on produce in PA?

In general, sales of food and beverages for human consumption are not subject to tax.

What items are tax exempt in PA manufacturing?

Purchases of equipment, machinery and supplies that are used to control, abate or prevent air, water or noise pollution generated during manufacturing or processing operations are exempt from the Pennsylvania sales and use tax.

What is tax exempt for manufacturing in PA?

The purchase or use of tangible personal property or services performed thereon by a person engaged in the business of manufacturing or processing is exempt from tax if the property is predominantly used directly by him in manufacturing or processing operations.

What is the tax exemption for the Live Local Act?

The requirements for the Live Local Act middle-market tax exemption are as follows: (1) The building must be “newly constructed,” meaning that it must have been substantially completed within five years before the date of the first request for certification; (2) 71 or more units must be leased to middle-income or lower

What is the Michigan Public Act 198?

AN ACT to provide for the establishment of plant rehabilitation districts and industrial development districts in local governmental units; to provide for the exemption from certain taxes; to levy and collect a specific tax upon the owners of certain facilities; to impose and provide for the disposition of an

What items are exempt from PA sales tax?

Tax-exempt goods Some goods are exempt from sales tax under Pennsylvania law. Examples include most non-prepared food items, items purchased with food stamps, prescription drugs, and most (but not all) wearing apparel.

What is an exemption from Pennsylvania local service tax?

Low-Income Exemption. Each political subdivision that levies an LST at a rate of $10 or less is permitted to exempt those taxpayers whose total earned income and net profits from all sources within the political subdivision is less than $12,000.

For pdfFiller’s FAQs

What is Industrial Facilities Tax Exemption (PA 198)?

The Industrial Facilities Tax Exemption (PA 198) is a tax incentive program in Michigan that allows certain industrial facilities to be exempt from local property taxes for a specified period, in order to encourage investment and economic development.

Who is required to file Industrial Facilities Tax Exemption (PA 198)?

Businesses that are planning to construct or rehabilitate industrial facilities and seek to benefit from the tax exemption must file for the Industrial Facilities Tax Exemption (PA 198) with the local government.

How to fill out Industrial Facilities Tax Exemption (PA 198)?

To fill out the Industrial Facilities Tax Exemption (PA 198), applicants must complete the designated application form accurately, providing information about the project, investment, and facility details, and submit it to the local government along with any required documentation.

What is the purpose of Industrial Facilities Tax Exemption (PA 198)?

The purpose of the Industrial Facilities Tax Exemption (PA 198) is to promote economic development, job creation, and retention in Michigan by providing tax relief to businesses investing in industrial infrastructure.

What information must be reported on Industrial Facilities Tax Exemption (PA 198)?

The information that must be reported includes the nature of the industrial project, anticipated investment amounts, timelines for construction or rehabilitation, and details about the property and its use.