mbt

Business
11:38 am
Sun March 31, 2013

Michigan processes shorter corporate tax returns

LANSING, Mich. (AP) - Michigan says the new corporate income tax returns it's processing are much shorter in length than other business tax returns.

The state Department of Treasury says the returns submitted to date average 17 pages. That's 41 fewer pages than the average Michigan Business Tax return.

The Corporate Income Tax approved in 2011 took effect for the 2012 tax year. Some businesses still file an MBT return because they qualify for certain tax credits.

The state says some MBT returns are longer than 1,000 pages.

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Politics
4:06 pm
Mon April 4, 2011

Governor Snyder confident his budget & tax plans will get legislative approval

Governor Rick Snyder, (R) Michigan

A state House committee is debating a tax-reform package that includes eliminating the state’s business tax and replacing its revenues with a corporate income tax and taxing pensions. Governor Snyder says he wants a state budget in place by the end of May.

However, fierce divisions over how and where to reform taxes – especially over whether to tax pensions – are slowing negotiations.

Snyder’s pleased with the progress on the budget so far:

“Things are going reasonably well in terms of that process.   And we’re working on a very fast time frame.  We’re well ahead of the way things traditional done in past years.  And we’ll still on a path to get fundamental reform done."  

Snyder says he's not put off by the harsh criticism that his budget and tax plans have generated: 

“That’s part of the legislative process.  That’s part of democracy.   But as a whole, I believe the framework we put out there will go ahead and if anything I hope it could be an improved product with the good dialogue we’re having today.”  

Some Senate Republicans have said they will not vote for any pension tax. And many Democrats are upset, claiming they have been locked out of negotiations altogether.

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Politics
1:57 pm
Fri January 28, 2011

Snyder's business tax plan revealed

Michigan Speaker of the House Jase Bolger (foreground) and Lieutenant Governor Brian Calley during Governor Snyder's State of the State address.
gophouse.com

Governor Snyder has said he wants to do away with the complex, "job-killing" Michigan Business Tax, and replace it with a more simplified flat tax for businesses in the state.

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