MBT replacement signedPublished 9:10pm Tuesday, December 27, 2011
LANSING — With the new year approaching and a new Corporate Income Tax scheduled to replace the unpopular and confusing Michigan Business Tax on Sunday, Lt. Gov. Brian Calley Tuesday signed 20 bills into law, including several pieces of cleanup legislation needed to clarify and properly implement the new, dramatically simplified tax.
Most notable among the changes Lt. Gov. Calley signed Dec. 27 is a provision that corrects an oversight that could have led to farmers losing their ability to claim the Homestead Property Tax credit.
The remainder of the bills are mostly technical in nature.