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Follow on Google News | Plante & Moran Launches Tax BlogIn an effort to help Michigan businesses and media stay up-to-date on state tax reform, the tax partners at Plante & Moran, PLLC have launched a blog.
By: Mary Ann Sabo The blog, which can be read online at http://tax-blog.plantemoran.com, will provide regular updates on Gov. Rick Snyder’s proposal to repeal the Michigan Business Tax and replace it with a flat 6 percent corporate income tax. His proposal was unveiled on Feb. 17 and was introduced as legislation on March 1. The blog will feature: • Discussion of proposed changes as the bills make their way through the Michigan House and Senate • Analysis of impact on businesses and business owners • Links to proposed legislation “The proposed changes to the state tax code will have a tremendous impact on all Michigan businesses,” “Plante & Moran is committed to maintaining a leadership role in understanding and communicating these changes to businesses and the media.” Highlights of the proposed replacement tax include: • Altering the state’s corporate tax structure to impose a 6 percent flat tax on all C corporations • Elimination of all tax incentives, including Brownfield, Michigan Economic Growth Authority and alternative energy credits; instead, the economic development incentives would be in the form of appropriated grants • Elimination of business tax credits, except the small business credit • End to personal income tax exemptions for public and private pension distributions About Plante & Moran, PLLC Plante & Moran (www.plantemoran.com) End
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