SBAM Calls For Approval Of House Tax Reform Package

LANSING ? The Small Business Association of Michigan called on members of the Michigan House to approve the tax reform package reported out of the House Tax Policy Committee. The package maintains the existing statute that repeals the Single Business Tax (SBT) on Dec. 31, 2009.

?Regardless of whether the SBT is ever actually repealed, SBAM believes that maintaining the SBT repeal statute will force a more vigorous phase-two debate on the most appropriate tax system to support Michigan?s long-term entrepreneurial needs,? said SBAM Vice President Government Relations Barry Cargill.

Cargill says that overall, SBAM believes the Tax Policy Committee package provides tools for economic development, reduces government spending and establishes the foundation for further debate on the appropriate long-tem tax system for business.

SBAM asks lawmakers to continue the tax reform effort beyond the current package. ?Even with the positive changes proposed in this package, Michigan?s business tax system will continue to be an unreasonable impediment to positioning Michigan for an entrepreneurial economy,? Cargill said.