Updated August 7, 2026. Quick answer: every figure Clear Money Guide holds about Michigan, on one page, each one copied from a dataset that cites its own statute or agency. Built for reporters on deadline — take any line, follow the link for the source.
What stands out about Michigan
These are the figures where Michigan differs most from the rest of the country — selected by counting how many jurisdictions share each value, not by editorial preference.
- Formation fee: $50 (articles of organization) — the only jurisdiction of the 48 we have data for
- Grace period days: 1 month — the only jurisdiction of the 47 we have data for
- Local ordinances: none permitted – preempted — the only jurisdiction of the 33 we have data for
- Deposit cap: 1.5 months’ rent — one of only 2 of 37
What dying costs here
- Small estate limit: 53000
- Small estate scope: unstated
Source and full detail: the cost-of-dying index. Figures copied from those pages, which own them.
Estate and property law status
- Authorized: yes
- Statute or act: Michigan Law on Notarial Acts, MCL 55.286b (RON platforms), with identity-proofing cross-reference at MCL 55.285; framework enacted by Public Acts 360 and 361 of 2018
- Effective date: 2019-03-12
- Conditions: Must be performed on an approved remote electronic notarization platform per MCL 55.286b; identity may be established via an identity-proofing service that is part of an approved platform. Michigan also recognises RON validly performed by other states’ notaries.
- Association name: Michigan Life and Health Insurance Guaranty Association (MLHIGA)
- Death benefit limit: $300,000
- Cash surrender limit: $100,000
- Annuity limit: $250,000
- Aggregate limit: $300,000
- Statute citation: Mich. Comp. Laws §§ 500.7701 et seq. (Michigan Life and Health Insurance Guaranty Association Act, Insurance Code ch. 77); section-level pinpoint not independently read
- Free look days: not less than 10 days
- Trigger: the date the policyholder RECEIVES the policy
- Extended windows: 15 days where the policy is delivered sooner than 5 days after the required policy-cost-factor information is given to the applicant
- Refund basis: prompt refund of any premium paid, including a policy fee or other charge
- Grace period days: 1 month
- Coverage during grace: the insurance continues in force during the month; the policy MAY stipulate that an overdue premium is deducted in any settlement if the insured dies during grace
- Variations: single-premium policies are exempt from the premium-related required provisions
Source and full detail: notary rules by state · guaranty association limits · life insurance free-look periods · life insurance grace periods. Figures copied from those pages, which own them.
Working and earning here
- Quit deadline: As soon as the amount can, with due diligence, be determined (no fixed number of days for ordinary employees)
- Fired deadline: Immediately, as soon as the amount can, with due diligence, be determined
- Statute citation: Mich. Comp. Laws §§ 408.475, 408.488
- Has law: No
- Disclosure trigger: none
- Salary history ban: No
- Local ordinances: none permitted – preempted
- Authority: statute
- Contested: no
Source and full detail: final paycheck laws by state · pay transparency laws by state · paid family leave by state · the convenience-of-the-employer rule. Figures copied from those pages, which own them.
Renting here
- Deposit cap: 1.5 months’ rent
- Return deadline: 30 days
- Interest required: no
- Statute citation: MCL 554.602, 554.604, 554.609, 554.613 (Act 348 of 1972, the Landlord and Tenant Relationships Act)
Source and full detail: security deposit law by state. Figures copied from those pages, which own them.
Starting a business here
- Formation fee: $50 (articles of organization)
- Annual report: $25 annual statement through September 30, 2027; $15 thereafter
- Franchise tax: not verified
- Publication requirement: none found
- Expedite options: Up to $50.00 additional for filing by facsimile or other electronic transmission (MCL 450.5101(2)); LARA’s posted expedited tiers not verified
- Statute citation: MCL 450.5101(1)(b), (1)(g), (2); MCL 450.4207(3)
- Five year total: at least $175
Source and full detail: LLC cost by state. Figures copied from those pages, which own them.
Tax treatment here
- Has law: Yes
- Treatment: ordinary income
- Rate: 4.25% flat
- Preferential mechanism: none
- Tax year: 2026
- Statute citation: MCL 206.51(1)(b)
Source and full detail: capital gains tax by state. Figures copied from those pages, which own them.
For journalists: how to cite this
Clear Money Guide, Michigan Money Statistics 2026. https://clearmoneyguide.com/state-money-statistics/michigan/. Every figure on this page is copied from a Clear Money Guide dataset that states its own primary source and the date it was read — follow the section links for the statute or agency behind any number. Free to reuse with attribution under CC BY 4.0.
What this sheet does and does not contain
This sheet aggregates; it does not research. Every figure is copied from the owning page linked in each section, and a figure we do not own is simply absent — not estimated, not inferred from a neighbouring state. That is why sheets differ in length: this one states 45 figures, and a state where we hold less will show fewer. A short sheet means we have less, not that the state has less.
Statutory law changes. Each linked owner page carries the date its figures were read; check there before relying on anything here. See also Michigan financial adviser statistics and all 51 state money sheets.
General information about published law and public data, not legal, tax or investment advice. No advertising appears on this page and we earn nothing from it.