Michigan Treasury Provides Limited Relief for FTE Taxpayers

The Michigan Department of Treasury issued a notice providing limited relief for taxpayers who elected the Michigan Flow-Through Entity (FTE) tax before the enactment of the recent federal legislation, H.R. 1, which changed federal state and local tax (SALT) deduction limits. Eligible taxpayers can request a refund of their election payments if they are in the first year of their three-year election period and have not yet filed their annual FTE return for that tax year. [Mich. Dep’t of Treasury, Notice, 09/15/2025]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.