Recently, the Michigan Economic Development Association partnered with the Pure Michigan campaign in order to advertise that Michigan was a business friendly state. While this commercial paints a nice picture of our state and it is true that starting in January our business tax structure will be much more simplified, Michigan
When Governor-elect Rick Snyder takes office Jan. 1, one of his top priorities is to replace the Michigan Business Tax with a 6 percent corporate income tax. He says this tax model will stimulate the economy and create jobs, making the state of Michigan more attractive to graduating students.
Yet, economists and
In 2007, Michigan lawmakers faced at that time, budgetary woes unparalleled to previous years. With a projected budget deficit near 1.8 billion dollars and a looming October 1st deadline, the legislature was pressed to find a way to balance the budget. The solution was to extend the 6% sales tax on
Talk of eliminating the state's Earned Income Tax Credit has proponents of the credit strongly defending their position. They say the credit is a great tool for keeping Michigan above the poverty line. The possibility of eliminating the credit was recently proposed by Michigan House Speaker Jase Bolger as a way
The 2010 Michigan Gubernatorial Race is underway and candidates are now preparing for the primary election in August. Each candidate has come out and stated the need for changes in our tax policy, but each candidate also has their own ideas for how this should be done. (Read more for each