Payroll used for partners is $17,900 annual as of 1-1-11, $18,000 as of 1-1-2012, $18,200 as of 1-1-2014, $18,300 as of 1-1-2015. Notes: Whether or not you get an EIN for your Sole Proprietorship will not impact your taxes. Note: Unless you pay all your Taxes or eFile your tax return by Oct. Form 4868 is known as the Application for Automatic Extension of Time to File U.S. hbbc`b``3 L *e endstream endobj 288 0 obj <>/Metadata 20 0 R/Outlines 3 0 R/PageLabels 17 0 R/PageLayout/OneColumn/Pages 19 0 R/PieceInfo<>>>/StructTreeRoot 22 0 R/Type/Catalog>> endobj 289 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/StructParents 0/Type/Page>> endobj 290 0 obj <> endobj 291 0 obj <> endobj 292 0 obj <> endobj 293 0 obj [/ICCBased 306 0 R] endobj 294 0 obj <> endobj 295 0 obj <> endobj 296 0 obj <> endobj 297 0 obj <> endobj 298 0 obj <>stream $21,000 as of 1-1-2020. 1585 0 obj <>/Filter/FlateDecode/ID[<5227F80443F74041B569C8B2EAC302CC><6FC7330EA80E664EB9D37731B8D583B1>]/Index[1563 55]/Info 1562 0 R/Length 104/Prev 334712/Root 1564 0 R/Size 1618/Type/XRef/W[1 2 1]>>stream 0000004986 00000 n employee injured due to a slip and fall would be covered, for example. Good news, Michigan doesnt require a general business license at the state-level for Sole Proprietors. We recommend using IncFile ($99) to handle the business license research for you. $21,300 as of 1-1-2021. If you decide youd rather operate as a Sole Proprietorship, we have the instructions below. Michigan rules indicate the sole proprietor is self-employed thus is excluded from coverage. expenses such as physical therapy or rehabilitation. We give expert advice about class codes, owner exclusions and audits so that your business never overpays for coverage again. Michigan law allows you to operate a sole proprietorship under a name other than your own. We cant process extension requests filed electronically after April 18, 2022. Sole Proprietorships offer no personal asset protection. The Michigan Association of County Clerks website can help you find the correct clerk to contact. 888-396-5041, Mailing Address: Workers Compensation Agency We recommend forming an LLC instead of a Sole Proprietorship. There isnt a one-step process to convert a Sole Proprietorship to LLC. Our Michigan work comp Specialists are waiting to review you coverage quickly and thoroughly to ensure you are getter the lowest rates possible for your company's workers' compensation insurance. $21,000 as of 1-1-2020. trailer <<65F696F881C140C7891AA2914D2EFAFD>]/Prev 24541/XRefStm 980>> startxref 0 %%EOF 308 0 obj <>stream You can get an automatic extension when you make a payment with Direct Pay, the Electronic Federal Tax Payment System or by debit or credit card. (For Sole Proprietor Subcontractors without Regular Employees) For workers compensation purposes our company is required to maintain verification regarding workers compensation coverage for all of our $19,800 as of 1-1-2018. A sole proprietor (self-employed individual) working in his or her sole proprietorship is never an employee of that business. The WDCA provides employers three different methods to comply with its insurance mandate. Compliance may be achieved by purchasing insurance, self-insuring, or properly executing an exclusion form. If you owe MA income taxes, you will either have to submit a MA tax return or extension by the April 18, 2023 tax deadline in order to avoid late filing penalties. If you believe that this page should be taken down, please follow our DMCA take down process, 17 Station St., Ste 3 Brookline, MA 02445.
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