The police department said in a statement Thursday that Taylor, 25, was charged with one count of domestic assault, one count of assault and one count of malicious destruction of property. His bond was set at $5,000.
A pretrial court date has been set for Oct. 8 at East Lansing District Court in Michigan. Jury selection for the case is set for Oct. 14, but Taylor also has the option of a bench trial.
Ingham County prosecutor Stuart Dunnings said Friday that the police report will not be released while the incident is under investigation.
According to the statement, police officers responded to an incident at the East Lansing Marriott at University Place around 1 a.m. Thursday.
The Hornets cancelled a media luncheon with coach Steve Clifford scheduled for Friday. Team spokesman Mike Cristaldi said Clifford will instead be spending time gathering facts surrounding Taylor's arrest.
"The organization is in the process of gathering more information and doing our due diligence," the Hornets said in a statement. "This is a matter that we take very seriously."
An NBA spokesman said, "We are aware of the arrest of Jeff Taylor and are investigating."
NBA commissioner Adam Silver had said Monday that the league will "take a fresh look" at its domestic violence policies in light of the issues surrounding the NFL.
"We learn from other league's experiences. We're studying everything that's been happening in the NFL," Silver said. "We're working with our players' association [and new executive director Michele Roberts]. We've been talking for several weeks, and we're going to take a fresh look at everything we do."
Taylor, who is from Sweden, was selected in the second round of the 2012 NBA draft after playing at Vanderbilt.
He is the latest professional athlete in Charlotte charged in a domestic abuse case.
Greg Hardy, a defensive end for the Carolina Panthers, was convicted July 15 of assault on a female and communicating threats after the woman said he threw her down on a bed of guns and tossed her into the shower.
Hardy is appealing the ruling, and a jury trial is set for Nov. 17.
The Panthers removed Hardy from their active roster last week, ending three weeks of indecision regarding his playing status. He played Week 1 and sat out the next game before being placed on the exempt/commissioner's permission list last week after the NFL came under public fire for its penalties in domestic violence cases.
The Hornets open training camp Tuesday in Asheville, North Carolina.
The 6-foot-7, 225-pound Taylor has been competing for the past two seasons with Michael Kidd-Gilchrist for a starting spot at small forward, and he's well-liked by coach Steve Clifford because of his athletic ability.
Last season, Taylor played in 26 games with eight starts before a ruptured Achilles tendon sidelined him for the rest of the season.
As a rookie in 2012, he played in 77 games with 29 starts. He is averaging 6.6 points and two rebounds per game for his career.
Information from ESPNNewYork.com's Ian Begley and The Associated Press was used in this report.
Hornets Forward Facing Serious Charges
ESPN legal analyst Lester Munson discusses the news that Hornets forward Jeff Taylor has been arrested on domestic assault charges.