LANSING ? The Small Business Association of Michigan (SBAM) announced its support for a business tax reform package introduced Tuesday in Lansing.
?The package of legislation addresses many of the tax reform principles that we have endorsed over the years,? said SBAM Chairman Chris Holman. ?It represents the beginning point of an important tax policy debate for the state of Michigan.?
Holman said there are elements of the package that SBAM thinks particularly benefit the small business economy, specifically: its emphasis on supporting research and development companies, the reduction in the SBT rate (including the small business rate), its movement towards taxation of corporate profits and away from taxation of payroll and capital investments, and the moving away from reliance on the personal property tax.
Holman said Gov. Granholm deserves considerable credit for her leadership in getting this process started.
?She clearly recognizes that Michigan needs to create a culture of entrepreneurial success,?? he said. ?We believe she understands we can?t afford to continue getting a failing grade in entrepreneurial dynamism, as was noted in our recent Small Business Foundation of Michigan Entrepreneurship Scorecard. The principles behind her tax proposal represent important first steps that help create the potential for developing a business climate that rewards risk taking and fosters job growth. We look forward to taking a proactive role in working with the governor and the Legislature to move the debate forward.?
