In The News Again
Wisconsin may be getting the headlines right now for state budget issues, but Governor Rick Snyder, a Republican who essentially ran as a nerd (seriously), is generating a bunch here in Michigan.
I was interviewed by Brian O'Connor from The Detroit News for an article that appears today.
Amongst his proposals: Killing the Michigan Business Tax. Instead, there would only be a tax on C Corporations. This would be welcome news to individuals, S Corporations, Partnerships and LLCs, as they are all subject to the current tax. The MBT is only about 3 years old, but is widely disliked. It replaced the Michigan Single Business Tax, which was considered onerous and complicated. The Michigan legislature proved that it was possible to come up with something worse when it enacted the Michigan Business Tax.
So if you read the article, you'll get a sense of the basis of my quotes. I will not miss the MBT one iota. And my CPA Firm, which is a Michigan PLLC, will benefit as well. I'm ok with that.
Joel M. Ungar, CPA is a lifelong resident of the Detroit area and a graduate of The University of Michigan. He is a principal with Silberstein Ungar, PLLC, a Top 15 auditor of SEC public reporting companies. Joel writes observations on different matters and especially on working with and using LinkedIn. He thinks he has a sense of humor.