The Michigan Personal Property Tax (PPT) has attracted consistent criticism from Michigan’s business community. The pressure for reform has increased since a business tax credit worth 35% of PPT liability was repealed as part of this year’s business tax overhaul, which led to the creation of the new corporate income tax (CIT). The purpose of this report is twofold: to qualitatively discuss the effect of repealing the PPT on Michigan’s economy, and to describe the effects of repeal on local and state government tax revenues.
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Michigan's Office of the Governor
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