Michigan Sales Agency Agreement

State:
Multi-State
Control #:
US-EG-9247
Format:
Word; 
Rich Text
Instant download

Description

Sales Agency Agreement between Massiano de Milano and Ichargeit.Com, Inc. regarding authorization of interest sales representation dated March 11, 1999. 3 pages.
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FAQ

So whether a seller selling a property on a land contract actually triggers due-on-sale provisions is debatable, since the land contract purchaser does not obtain title until they pay off the contract. Therefore, memorandums of a land contract are recorded in the county to put the world on notice of a transaction.

Both Seller and Buyer should receive a copy of the fully signed Purchase Agreement. Michigan law requires the Seller to promptly provide Buyer with a fully completed Seller's Disclosure Statement, a copy of which is included on pages 45-49. The Seller must complete this form by signing, dating and sending to the Buyer.

Sales, Use and Withholding taxes are filed on a monthly, quarterly or annual basis. A filing frequency will be assigned upon a taxpayer's estimated level of activity. After the first tax year of filing, the frequency is determined by a taxpayer's previous tax liability.

In Michigan, you will be required to file and remit sales tax either monthly, quarterly, or annually. All taxpayers, even those on a monthly or quarterly schedule, are required to file an annual sales tax return by the final day of February in the year following the taxable period.

Individuals or businesses that sell tangible personal property to the final consumer are required to remit a 6% sales tax on the total price of their taxable retail sales to the State of Michigan.

Penalty is 5% of the total unpaid tax due for the first two months. After two months, 5% of the unpaid tax amount is assessed each month.

Elements of a sales agreement Buyer and seller names and contact information. Description of goods, services, or property being purchased. Payment amount, dates, and method. Liability of each party in the case of loss, damage, or delivery failure. Ownership information, such as when ownership formally transfers to the buyer.

In Michigan, you will be required to file and remit sales tax either monthly, quarterly, or annually. All taxpayers, even those on a monthly or quarterly schedule, are required to file an annual sales tax return by the final day of February in the year following the taxable period.

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Michigan Sales Agency Agreement