New Tax Shocks Michigan Business Owners
James Jenkins, a Southfield accountant. said last week that he's facing an even stiffer bump in his business taxes. from $1,000 a year under the SBT to $14,000 a year under the MBT, a 1,300% increase
What is different:
The MBT shifts some of the burden away from manufacturers and onto the fast-growing service sector, which includes insurance companies, restaurants, travel agencies, and accounting firms. The MBT relies more on a firm's profits to calculate taxes.
In addition, the MBT significantly cut the personal property tax on equipment that businesses paid under the SBT. That helped manufacturers and large commercial businesses.
Got Questions About The MBT?
Business owners with questions about the MBT can e-mail them to treasmbt@michigan.gov
Taxpayers can also get more information at: http://tinyurl.com/yobj48.............
Detroit Free Press
What is different:
The MBT shifts some of the burden away from manufacturers and onto the fast-growing service sector, which includes insurance companies, restaurants, travel agencies, and accounting firms. The MBT relies more on a firm's profits to calculate taxes.
In addition, the MBT significantly cut the personal property tax on equipment that businesses paid under the SBT. That helped manufacturers and large commercial businesses.
Got Questions About The MBT?
Business owners with questions about the MBT can e-mail them to treasmbt@michigan.gov
Taxpayers can also get more information at: http://tinyurl.com/yobj48.............
Detroit Free Press
posted by Milt Baker CPA | 11:46 AM
1 Comments:
We at Taxpayers to Recall Andy Dillon are working hard to send a message. We know that what they did in Lansing was hurtful to business and other taxpayers because they are one in the same. We are almost there. We are collecting signatures and will be on the August primary.
There is a longtime before the primary but we will need your support both financially and morally. The special interest which they serve will no doubt support them, lobbyists, government employee unions and others who are feeding from the trow. We are fighting big bucks. Anything even small that you can give will help.
Please send donations to MichiganRecalls.com
Rose Bogaert, Chair
Wayne County Taxpayers Association
Taxpayers to Recall Andy Dillon
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