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| President's Letter
MiCAR is pleased to bring its members targeted commercial real estate sessions at the 2007 MAR Convention and Expo, September 26-28. Showcased at the biggest and best gaming destination in the Midwest, the Convention and Expo will be Michigan’s largest gathering of REALTORS® this year. Soaring Eagle Casino and Resort in Mount Pleasant is a world-class facility, making this location perfect for hosting the year’s best networking opportunities for commercial real estate practitioners. Such events include the President’s Cup Golf Outing, Grand Assembly, Lunch at the Expo, and REALTOR® Royale. Typically, MAR’s Annual Expo boasts over 100 industry-related exhibitors displaying new products and services specifically designed for REALTORS® and Commercial Real Estate professionals. Following the success of the commercial track at last year’s Convention and Expo, MAR will again be offering several opportunities for MiCAR members to further their education. Commercial sessions will be hosted by renowned experts such as seasoned commercial REALTOR® Joe Banyai and real estate law expert, Doug McClure. In addition, I am pleased to announce I will be participating in a MiCAR leaders panel along with Rick Birdsall of Signature Associates and Randy Thomas of Colliers International. We expect this to be informative for both commercial and residential practitioners. Besides commercial education sessions, many other hot industry topics will be covered, and there are already 19 credits of continuing education available with more pending. The survey work MiCAR completed earlier this year said our members wanted MiCAR to offer more educational and networking opportunities. The MAR Convention & Expo offers plenty of both. For information on MiCAR, the Michigan Commercial Alliance of REALTORS®, or to register for this years Annual Convention and Expo, visit MAR’s web site at www.mirealtors.com. MiCAR has just completed the details to put the MiCAR brand with the UM/RLI Real Estate Forum. This is a great benefit of membership not only for exposure but also for attendance. Closing out this month’s newsletter I am not certain I should celebrate or cry. It appears we have a replacement tax, the sad part is, it is a replacement tax, meaning the burden has shifted, not gone away. Remember “past performance is no guarantee of future results.” The Michigan Business Tax (MBT) Estimator is now available. This program allows you to estimate your tax liability under the new MBT, which replaced the previous tax plan, the Single Business Tax (SBT). This calculator is intended to give an approximation and comparison of your tax liability. However, it does not calculate unique circumstances or narrow exemptions and credits, such as research and development, brownfield redevelopment, MEGA, Renaissance Zone, ME-2, ITC recapture, loss carry forward or carry back, or historic preservation credits. The MBT Calculator will apportion your tax base by multiplying it by a fraction where the numerator is gross receipts, or sales, in Michigan and the denominator is the total sales. If you leave the “Michigan only Gross Receipts” data cell blank, the Estimator will assume a zero amount and your tax liability will be zero. If your total sales and Michigan sales are the same, enter the same amount in both cells. Also note:
Please keep us informed on any major unforeseen consequences that the new MBT may impose on your business by utilizing the estimator. If you have any questions, comments or concerns, please contact us at 1-800-454-7842 or mar@mirealtors.com. MiCAR Web Page Gets Updated Resources As a commercial REALTOR®, MAR has dedicated a section of its Web site to serve you. MiCAR members can find many resources on the improved site including daily headlines from the Wall Street Journal, Crain’s Detroit Business and NAR, commercial forms, and useful links that include other professional associations, tools for the industry, news, public records and forecasts by region. This section of the MAR site also hosts a comprehensive statewide education/events calendar. Now you can be plugged into the industry 24/7 with the click of your mouse. If you have events to add to our calendar or a useful link please email those to abates@mirealtors.com. Get CE While Learning Tricks of the Trade From Industry Leaders Following the success of commercial education sessions at last year’s Convention and Expo, MAR will again be offering several opportunities for commercial REALTORS® to further their education. This three day event will be held Wednesday, September 26th – Friday, September 28th at the Soaring Eagle Casino and Resort in Mt. Pleasant and boasts Michigan’s largest gathering of real estate professionals. This year’s commercial track will be offered on Thursday, September 27 and will feature the following sessions:
Other tracks offered at this year’s convention include technology, agent, appraisal, management and legal and there are already 19 credits of Continuing Education available with more pending approval. If you are a first time attendee you can register for the full three days of convention for only $119/member. If you are a retuning attendee, you too can save and register for only $179/person if you are registered by the early bird deadline. For updated information on subsequent continuing education approvals for convention, to register, or for more information on MiCAR, Michigan’s Commercial Association, please visit MAR’s Web site. This site is a valuable tool for planning your 2007 MAR Convention & Expo experience as it displays a full list of events and speakers. MiCAR, Here to Meet Your Needs
A New Capital Gains Battle: The "Carried Interest" NAR Legislative Update Legislation guaranteed to spark a ferocious new capital gains debate has exploded in Washington. The bill, H.R. 2834, will have an adverse impact on most real estate partnerships. The legislation has been designated as a mechanism to generate revenue to “pay for” reforms to the Alternative Minimum Tax (AMT). Essentially -- if you are a general partner in a real estate venture, and your participation is limited to property management -- but your partnership agreement offers you a percentage of the profit on top of the management fee -- that percentage, under H.R. 2834 would be taxed at the ordinary income tax rate of 35% instead of the current capital gains rate of 15%. MiCAR Sponsors UM/ULI Real Estate Forum MiCAR is pleased to announce it has secured a sponsorship opportunity at the UM/RLI Real Estate Forum taking place November 7 – 8 at the Management Education Center in Troy. This annual event is expected to attract real estate professionals from across the industry to discuss this year’s theme, connecting suburban and urban town centers via transit. This year’s event features Charles DiRocco, ULI managing director, real estate Industry/Finance, L. Brooks Patterson, Oakland County Executive, Doug Smith, Oakland County, director of economic development, Robin Beltranini, Troy City Council, Michael Dengrate, National City Bank, David Duchscherer, Wendel Duchscherer, Hunter Richardson, Richardson Development Group, Pual Tait, SEMCOG and Peter Allen, Peter Allen & Associates. Mark Falcone, managing director and founder of Continuum Partners, Denver, Co, will give the keynote address. The program will also feature a narrated bus tour of Troy development as well as networking. For more information, or to register , visit the UM/ULI real Estate Forum’s Web site. |
July 2007 • President's Letter • MiCAR Web Page Gets Updated Resources • Get CE While Learning Tricks of the Trade From Industry Leaders |
NAR - REALTORS® Commercial Alliance Resources |
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Meet your MiCAR administrator, Andrea Bates. She works with MAR’s commercial members to ensure their professional needs are being met. In this role she implements governing policies and procedures and evaluates existing programs, services, and procedures. Andrea has been at MAR for 6 years and working with MiCAR for the past year. If MiCAR can be of service to you, or you have any questions related to MiCAR, please call Andrea at 800.454.7842 or email at 
720 North Washington Avenue • P.O. Box 40725 • Lansing, Michigan 48901-7925
800.454.7842 • Fax: 517.334.5568 • Contact us • www.mirealtors.com
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