Treasury dpt. gives business owners more time to pay taxes

GRAND RAPIDS, Mich. (WOOD) — The Michigan Department of Treasury issued a notice Saturday, saying it will support businesses working to stay afloat during the coronavirus pandemic.

The agency said it will give business taxpayers more time to pay their Sales, Use and Withholding taxes.

According to MDOT, “business taxpayers who were scheduled to make SUW tax payments due in March, April and May – including quarterly filers – can postpone filing requirements until June 20, 2020.”

Authorities said the state Treasury Department will waive penalties and interest on those deferred payments.

“We have carefully listened to the concerns of our business partners,”said Rachael Eubanks,  State Treasurer, “Moving the sales, use and withholding tax deadline until June and providing other repayment options will help taxpayers navigate their way through this crisis.”

MDOT officials encouraged business taxpayers to file SUW tax returns and pay taxes owed as of the original due date if able to do so. 

“Discounts will still be applied if payments are received on time,” said MDOT.

The waiver is not available for accelerated sales, use or withholding tax filers. 

Anyone seeking more information about the process may visit www.michigan.gov/askSUW.