Introduced
by
To reduce the Single Business Tax rate from 1.9 percent to 1.2 percent. This rate is not applied to income, but to a complicated tax base formula that includes payroll, profits, sales and more. This bill is part of a package comprised of House Bills 4969 to 4974, which contain the tax cut portions of <a href="http://www.michiganvotes.org/2005-HB-4476">Gov. Jennifer Granholm’s SBT revision proposal</a>, but not the tax increases that make the governor’s proposal revenue-neutral.
Referred to the Committee on Tax Policy
