Tagged: michigan business tax

Governor Rick Snyder is cool to a proposal to roll back Michigan’s new pension tax.

The pension tax was part of a package enacted in 2011 that eliminated the Michigan Business Tax.

A group of five Republican state senators wants to repeal the pension tax and reinstate some homestead property tax credits.

Governor Snyder says the tax on pensions is just a matter of fairness, so that the tax burden falls equally. The governor insists the tax that pensioners are now paying is not too much ask.

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.

The following is a summary of a previously recorded interview. To hear the complete segment, click the audio above.

For those who have not yet completed your 2012 tax returns- brace yourselves.

In 2011 Governor Snyder signed a tax overhaul package that included $1.4 billion  in additional income taxes and $1.7 billion in business tax cuts.

Governor Rick Snyder discussed all kinds of issues during an online townhall meeting today. People participated in the town hall online and remotely from Traverse City, Grand Rapids and Detroit.

“My question is what can be done about the horrible transportation situation in the City of Detroit?” Shelia Foreman asked Snyder from Wayne State University’s TechTown. “I have had relatives lose their jobs because they cannot get to them. Do you have a solution for that?”

Nonprofits across Michigan are doing their annual end-of-year holiday push for financial donations. This will be the last time donors will be able to take advantage of a charitable tax credit.