House Bill 4590
Sponsor: Rep. Nancy Cassis
House Bill 4593
Sponsor: Rep. Jim Howell
Committee: Tax Policy
Complete to 5-7-99
A SUMMARY OF HOUSE BILL 4590 AND 4593 AS INTRODUCED 4-27-99
House Bill 4590 would amend the Single Business Tax Act to lower the rate of the tax from 2.3 percent to 2.25 percent for the year 2000, and House Bill 4593 would reduce the rate to 2.2 percent on and after January 1, 2001. The two bills are tie-barred.
(The Single Business Tax, or SBT, is the state's principal business tax. It is considered a value-added tax and, generally speaking is levied on a firm's profits, labor costs, interest costs, and depreciation.)
MCL 206.31 and 208.31b
Analyst: C. Couch