Question 1

Ongoing Eligibility: what does Good Jobs for Michigan Tax Credit require?

Accepted Answer

Maintain the minimum qualified new jobs threshold agreed upon in the written agreement each year the credit is authorized; failure to create or maintain the jobs means no funding is provided. Deadline: continuous throughout credit period. Disallowed-cost risk: If jobs are not created or maintained, withholding tax capture ceases and no credit is paid.

Question 2

Financial & Cost Eligibility: what does Good Jobs for Michigan Tax Credit require?

Accepted Answer

Maintain wage levels at or above the regional average wage threshold specified in the agreement for all qualified new jobs. Deadline: continuous throughout credit period. Disallowed-cost risk: Failure to maintain wage thresholds may trigger credit reduction or termination.

Question 3

Reporting: what does Good Jobs for Michigan Tax Credit require?

Accepted Answer

Submit periodic compliance reports demonstrating job creation milestones and payroll withholding amounts to MEDC. Deadline: per milestone schedule in written agreement. Disallowed-cost risk: Failure to document performance milestones may prevent credit disbursement.

Question 4

Recordkeeping: what does Good Jobs for Michigan Tax Credit require?

Accepted Answer

Maintain payroll records, withholding tax documentation, and employment verification records for audit by MEDC or Michigan Strategic Fund. Deadline: retain for duration of agreement plus applicable statute of limitations. Disallowed-cost risk: Inability to substantiate qualified jobs may result in credit recapture.

Good Jobs for Michigan Tax Credit: Compliance Requirements

⚠ Common Disallowed-Cost Pitfalls

Reporting

Financial & Cost Eligibility

Recordkeeping

Ongoing Eligibility

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