Michigan business tax: the goal was simplification, but the result - not exactly.
Tax Executive › Vol. 61 Nbr. 1, January 2009
Linked as:
Extract
Michigan business tax: the goal was simplification, but the result - not exactly.
The development of a replacement tax for the State of Michigan's Single Business Tax (SBT) involved many different organizations drafting proposed replacement tax plans and providing guidance to the Michigan legislature regarding the need for tax simplification, a low tax rate, and a broad base for the tax. The common theme in many of these meetings was to provide a replacement tax structure that would be deemed competitive when compared to other states; thus lending itself to new business growth.
The Michigan Legislature also had several objectives in developing the new replacement tax, including complete revenue replacement of funds lost owing to the repeal of the SBT, tax simplification, and th...See the full content of this document
Sponsored links
