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 Gov. Jennifer Granholm’s SBT revision proposal, but not the tax increases that make the governor’s proposal revenue-neutral.
Referred to the Committee on Tax Policy
