Will Michigan Repeal the Michigan Business Tax?
Last week, the Michigan Governor stated he wanted to eliminate the Michigan Business Tax (MBT) with a 6% corporate net income tax.
In conjunction with the Governor's State of the State address, two bills were introduced that would repeal the MBT.
Michigan HB 4047
Michigan SB 1
Will it happen? Wait and see.
Brian Strahle is the owner of LEVERAGE SALT, LLC where he provides state and local tax technical services to accounting firms, law firms and tax research organizations across the United States. He also writes a weekly column in Tax Analysts State Tax Notes entitled, "The SALT Effect." For more info, visit his website: www.leveragestateandlocaltax.com
You can reach Brian at firstname.lastname@example.org.
Because state and local taxes are deceptively simple and endlessly complicated.