Attached is an article in today's Detroit News about the new Single Business Tax replacement. It looks like there is support for the proposal from a variety of individuals and groups. Some concerns that have been raised is the tax INCREASE on certain sectors (finance, insurance, out of state companies), but I would like to know how this new tax level compares to other states in the region before coming to a final conclusion. 72% of businesses will see a tax DECREASE as compared to the old SBT - so that is a good thing.
Also, there is no net tax decrease for businesses in Michigan. One way to help spur economic growth (thereby increasing tax receipts) is to cut taxes. I hope our state governmental officials don't forget that.
Having worked in a split state legislature in the past, I know how difficult it is to work together and get acceptable legislation through, so I must tip my hat to the legislative leaders for offering this complex and comprehensive proposal.