Renewable Energy Renaissance Zones
In 2006, Michigan enacted legislation allowing for the creation of Renewable Energy Renaissance Zones (RERZ). Renaissance zones offer significant tax benefits to facilities located within their boundaries. Facilities within a renaissance zone do not pay the Michigan Business Tax*, state education tax, personal and real property taxes, or local income taxes (where applicable). These taxes may be abated for up to 15 years, with the abatements being phased out in 25% increments over the last three years of the zone designation. For residents of renaissance zones designated before 2012, taxpayers are exempt from paying certain income taxes, if they
- Read more about Renewable Energy Renaissance Zones
- Log in or register to post comments