Single Business Tax - Great Lakes 4x4. The largest offroad forum in the Midwest

Go Back   Great Lakes 4x4. The largest offroad forum in the Midwest > General 4x4 Stuff > Politics, Government, or Religion Chat
GL4x4 Live! GL4x4 Casino

Politics, Government, or Religion Chat Bring your flamesuit!

greatlakes4x4.com is the premier Great Lakes 4x4 Forum on the internet. Registered Users do not see the above ads.
Search
Reply
 
Thread Tools Search this Thread
Old October 31st, 2006, 01:08 PM   #1
Lothos
KD8GKB
 
Lothos's Avatar
 
Join Date: 11-17-05
Location: .5 past lightspeed
Posts: 6,506
iTrader: (3)
Mentioned: 0 Post(s)
Send a message via ICQ to Lothos Send a message via AIM to Lothos Send a message via Yahoo to Lothos
Default Single Business Tax

Michiganís Corporate Income Tax System
Michigan levies a Single Business Tax (SBT), which is a modified value-added tax (VAT). The base of the SBT is, in its simplest form, is the difference between a firmís sales and the cost of materials. The SBT consists of two brackets; all taxable receipts under $45,000 are not taxed, while all receipts over that threshold are taxed at a 1.9% rate. Among states levying corporate taxes, no state had a corporate rate lower than Michiganís, however if the SBT were converted into a corporate income tax the rate would need to be in excess of 14% to yield similar revenues. The Michigan Department of Treasury Office of Revenue and Tax Analysis conducted a study of the SBT in 2003. They determined that in order to raise an equal amount of revenue as the SBT, a Corporate Income Tax of 14.83 percent would be necessary. The analysis covered a time span of 22 years, from 1977 to 1999. 14.83 percent was the average rate that would have been required to raise equal revenue during the 22 year period. However, during that time the analogous rate was as high as 58.17 percent in 1992. In 2004, corporate tax collections reached $182 per capita, ranking it 8th highest nationally.



50 state list: http://www.taxfoundation.org/taxdata/show/230.html
Lothos is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply
Great Lakes 4x4. The largest offroad forum in the Midwest > General 4x4 Stuff > Politics, Government, or Religion Chat

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 10:31 PM.


Powered by: vBulletin, Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
User Alert System provided by Advanced User Tagging (Lite) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd. Runs best on HiVelocity Hosting.
Page generated in 0.08119 seconds with 25 queries