MichiganVotes.org: Michigan Laws, Bills and Votes
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Legislation watch
2004 Senate Bill 1113: Establish estate tax
Introduced by Sen. Hansen Clarke D- 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. Official Text and Analysis.
Referred to the Senate Finance Committee 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.