Michigan minimum wage increases to $9.45 in late March 2019

Governor Rick Snyder signed bills into law on Friday, December 14 that revise the minimum wage.
Under the revised law, Michigan’s minimum wage will increase from $9.25 to $12.05 per hour by 2030. The new minimum wage rules eliminate an existing mechanism designed to allow the state’s rate to rise with inflation in future years.
An increase in the minimum hourly wage rate does not take effect if the unemployment rate for Michigan, as determined by the Bureau of Labor Statistics, is 8.5% or greater for the calendar year preceding the prescribed increase. If an increase does not take place in a given year, that rate will go into effect the following year, assuming the unemployment rate is less than 8.5%.
The $9.45 minimum wage will go into effect on the 91st day after final adjournment of the 2018 legislative session. Once the current legislative session is officially closed the exact implementation date will be announced. We anticipate it will be late March 2019.

Sales tax trade-in credit increases to $5,000 on Jan. 1

With the legislative change that was passed at the beginning of this year, each January 1st the cap on the trade-in value now increases by $1,000 until it reaches $14,000, at which point the cap is removed and full sales tax on the difference is implemented. In 2019, a person can receive up to a $5,000 reduction in the taxable price of a vehicle, reducing the amount of sales tax due. Please remember that the Delivery Date determines the sales tax trade-in credit amount to apply (NOT purchase date).
The state also created a document with answers to frequently asked questions related to the sales tax trade-in credit, such as:
Q. Can a trade-in sales tax credit be applied to a lease vehicle transaction?
A. No, the trade-in credit laws do not provide for trade-in tax sales tax credit for leased vehicles
A link to the FAQ is available within the MADA website at www.michiganada.org. (While the trade-in mentioned is still the current $4,000 amount, the questions and answers are valid.)

2019 Fuel Economy Guide now available

EPA regulations require automobile dealers to display the EPA/DOE Fuel Economy Guide prominently at each location where new automobiles are offered for sale and to make it available to the public at no charge. Dealers may choose to either have printed copies on hand or provide access to the electronic version/website on a computer in the display area.