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Latest post 06-18-2004 9:49 AM by Admin003. 1 replies.
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  • 01-01-2001 12:00 AM

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    • Joined on 11-22-2008

    2004 Senate Bill 1113 (Establish estate tax)

    Introduced in the Senate on March 18, 2004, to eliminate the link between the Michigan estate tax and the federal estate tax, which would establish a permanent Michigan 5.3 percent estate tax on estates of $1 million or more. Assets attributable to family owned businesses, including farms, would be excluded from taxation. This would increase the amount of tax paid by estates by $90 to $120 million a year

    The vote was 15 in favor, 22 opposed and 1 not voting

    (Senate Roll Call 418 at Senate Journal 62)

    Click here to view bill details.
  • 06-18-2004 9:49 AM In reply to

    Sen. Cassis' "journal statement"

    Senator Cassis, under her constitutional right of protest (Art. 4, Sec. 18), protested against the passage of Senate Bill No. 1113 and moved that the statement she made during the discussion of the bill be printed as her reasons for voting "no." The motion prevailed. Senator Cassis' statement is as follows: This week there has been a lot of straight talk. Here is some more straight talk on the estate tax. There is no question the estate tax is a tax on a tax, on a tax, on a tax, on a tax, on a tax. It never ends, even from the grave. This tax would make it very difficult to hold families together, even though there is some small exemption, but that exemption is inadequate. It simply won't do it. Many seniors over the years have found Michigan more desirable to stay here and retire in. This legislation clearly defeats that purpose, and they will leave for more tax-friendly states.
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