LANSING – The state's leading small business organization, NFIB, announced the release of a report that shows small business is paying the lion’s share of the state’s primary business taxes. “A recent House Fiscal Agency report suggests 2018 net revenue from the Corporate Income Tax could be about $392 million, but just a few years ago
WASHINGTON DC - On Nov. 2, House Ways and Means Committee Chairman Kevin Brady (R-Texas) released a 429-page tax reform bill, entitled: Tax Cuts and Jobs Act of 2017 (H.R. 1). According to the Chairman, the legislation aims to lower business and individual tax rates, modernize U.S. international tax rules, and simplify the tax law,
LANSING - Revenues from Michigan’s primary taxes jumped by nearly 16 percent in June compared to June 2016, netting the state $2.2 billion during the month, figures released Thursday by the Senate Fiscal Agency showed. Strong performance from the individual income tax, the sales tax and state business taxes helped drive the increase which totaled
EAST LANSING - A new nationwide study of state business tax burden by Anderson Economic Group shows that Michigan has the sixteenth lowest business tax burden in the nation. The study found that 8.0 percent of Michigan business profits went toward state and local taxes in 2015 (the most recent year for which data are
LANSING - The Michigan Department of Treasury Business Tax Division was not ensuring that businesses were filing all the necessary tax forms and was not following up when forms were tagged for errors, a report from Auditor General Doug Ringler said. The performance audit of the Corporate Income Tax and Michigan Business Tax in the
