2005 House Bill 5076

Cut SBT rate

Introduced in the House

Aug. 3, 2005

Introduced by Rep. Jacob Hoogendyk (R-61)

To immediately cut the Single Business Tax (SBT) rate from 1.9 percent to 1.6 percent. Because the SBT is a value-added tax (VAT), this rate is not applied to income, but to a complicated tax base formula that includes payroll, profits, sales and more.

Referred to the Committee on Tax Policy