Introduced
by
To reduce the Michigan Business Tax rate, and make up all or part of the revenue reduction by eliminating a number of selective business tax breaks and subsidies (see House Bills 6107 to 6119, and HB 5249). This bill cuts the rate of the “gross receipts tax” component of the MBT from 0.8 percent to 0.5 percent. This component accounts for approximately 60 percent of the revenue extracted by the MBT, with most of the rest coming from a business income tax. House Bills 6103 to 6107 each propose cutting one of the MBT components.
Referred to the Committee on Tax Policy
