A Slight Improvement in Michigan

Michigan has one of the worst business tax climates in the country. Legislators in the state made a slight improvement in their tax situation last week when they unanimously approved a bill that would stop Michigan businesses from paying tax on tax.

Yes, you read that right. Under the Michigan Business Tax sales tax in considered part of the gross receipts used in calculating the MBT. That inequity, along with paying tax on tax-exempt interest income, will be eliminated.

Governor Jennifer Granholm is expected to sign the measure this week.

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