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MICHIGAN BUSINESS & PROFESSIONAL ASSOCIATION APPLAUDS REMOVAL OF MICHIGAN BUSINESS TAX

05-26-2011 10:17 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MBPA

May 23, 2011 – With Governor Rick Snyder’s signing today of House Bill 4362, which will eliminate the Michigan Business Tax (MBT), small businesses across the state have reason to celebrate.

“It is very gratifying to see the culmination of our long-time efforts on behalf of our members to rid Michigan of the unfair and burdensome MBT,” says Jennifer Kluge, Executive Vice President and COO of the Michigan Business and Professional Association (MBPA) and its sister association the Michigan Food and Beverage Association. “We finally have a new corporate income tax that is fairer and will allow small businesses to invest and grow, while having relief from the hardships of this economy.”

Both Associations, whose large membership includes more than 20,000 small businesses, employing over 160,000 individual employees, had supported House Bill 4362 as it made its way through the state legislature. The new 6 percent corporate income tax that will take effect Jan. 1, 2012 will apply to C corporations only.

“This new tax is good news for those business owners who were being taxed twice under the old system – once on their personal taxes and once on their business taxes. We look forward to working with our legislature and Governor Snyder on forthcoming initiatives that will continue to make Michigan more business-friendly,” added Kluge.

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Based in Warren, Mich., the MBPA (www.michbusiness.org) is the largest business organization of small to medium-sized businesses in Michigan, representing more than 20,000 members who employ over 160,0000 persons. Members include attorneys, physicians, architects, accountants, construction companies, banks, retail, wholesalers, manufacturers and the like. Member businesses receive numerous benefits including free legal and financial consultations; discounted technology, automotive and office products; employee training and recruitment assistance; and competitive group insurance rates. The MBPA is a sister association to the Michigan Food & Beverage Association (MFBA www.michfood.org).

Based in Warren, Mich., the MBPA (www.michbusiness.org) is the largest business organization of small to medium-sized businesses in Michigan, representing more than 20,000 members who employ over 160,0000 persons. Members include attorneys, physicians, architects, accountants, construction companies, banks, retail, wholesalers, manufacturers and the like. Member businesses receive numerous benefits including free legal and financial consultations; discounted technology, automotive and office products; employee training and recruitment assistance; and competitive group insurance rates. The MBPA is a sister association to the Michigan Food & Beverage Association (MFBA www.michfood.org).

27700 Hoover Road 
Warren, Michigan 48093

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