MI Budget Proposal: No More Business Tax

The first bill introduced in the Michigan legislature this year would repeal the 21.99% surcharge that was added to the Michigan Business Tax in 2007.

Governor Rick Snyder has proposed eliminating the Michigan Business Tax and surcharge, replacing them both with a flat 6% corporate tax.

According to a Grand Rapids Area Chamber of Commerce membership survey, nearly half the respondents support full repeal of the Michigan Business Tax.

The Mackinac Center for Public Policy says the repeal of the surcharge would create more than 8,300 new jobs in the first year.