Category: Taxes

State House Approves Budget Bill

On Wednesday the State House passed a budget bill that spends $1.4 billion less than this years budget.  Cuts are spread across all areas of government. The House did not take up budgets for schools, community colleges and universities, they are expected to debate… Continue Reading “State House Approves Budget Bill”

State House Approves Tax Plan

The Michigan State House approved the tax plan Thursday afternoon on a 56-53 vote.  The plan replaces the Michigan Business Tax (MBT) with the 6 percent corporate tax that Governor Snyder proposed in February.   The new tax plan also freezes the current income tax… Continue Reading “State House Approves Tax Plan”

President signs 1099 Form Repeal

Thursday, President Obama signed the repeal of the 1099 form tax reporting requirements that was a part of the health-care bill. The provision would have required all businesses to submit the form to any vendor from whom they had purchased goods or services totaling… Continue Reading “President signs 1099 Form Repeal”

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