Tagged: michigan business tax

Senate Bill 1 has been introduced, and you can read it, in its entirety - here you go:

The Michigan business tax act, 2007 PA 36, MCL208.1101 to 208.1601, is repealed.

The bill was introduced by Senator Dave Hildenbrand and comes in advance of Governor Rick Snyder's State of the State address tonight.

Replacing the Michigan Business Tax was one of candidate Snyder's main promises to voters.

Laura Weber of the Michigan Public Radio Network filed a report on Senate Bill 1:

Senator Dave Hildenbrand...says his bill is more aggressive than a similar bill introduced by House Republicans, which only repeals part of the business tax:

"Well we wanted to send a strong message that we want to create a better business climate in this state so our job providers can provide jobs. It’s pretty clear, I think to all of us, that the Michigan Business Tax is an obstacle for employers to good create jobs, expand, for the ability for us to attract job providers to Michigan. So we’ve declared war on the Michigan Business Tax."

Governor Rick Snyder wants to replace the Michigan Business Tax with a flat tax on large businesses. Snyder is expected to talk more about his plans for economic development during his State of the State address tonight.

Governor-elect Rick Snyder tells the Associated Press that he plans to give state lawmakers a two-year budget proposal, that he wants them to pass by July 1st.    That would be a big change in two ways: 1) most state budget plans have been year to year, not two year plans, and 2) the legislature rarely passes a state budget until near the end of the fiscal year in September.  Snyder tells the Associated Press he's accelerating the normal budget drafting pace and will be delivering his plan to the legislature earlier than the mid-March deadline.  Snyder says he's making business tax reform a major part of his budget plan, according to the Associated Press:

 As Michigan begins to emerge from its decade-long economic slump, Snyder says his first priority is to eliminate any hurdles to that recovery. He plans to cut business taxes in the budget that takes effect next fall.