Home > Uncategorized > Michigan Businesses: Eliminating The Personal Property Tax on Your Equipment

Michigan Businesses: Eliminating The Personal Property Tax on Your Equipment

Today I attended an Executive Briefing co-hosted by the Grand Rapids Area Chamber of Commerce http://www.grandrapids.org

and the Michigan Manufacturers Association www.mma-net.org/.

The GRACC and MMA teamed up to bring Governor Rick Snyder to Grand Rapids to discuss a ballot initiative that will be decided by voters – on August 5, 2014 – to phase out the Personal Property Tax in Michigan.

The Executive Summary that was provided to all those in attendance cited:  “[f]or decades, Michigan has unfairly double taxed small business through the PPT on all of their equipment.” and “they pay an additional personal property tax on their equipment just for owning it- that tax never goes away, no matter how old the equipment is.”

– as an anecdotal note, I’m writing this post from my just purchased laptop computer – I know I had to be a sales tax on it, I’m glad (hopeful) that I’m not paying an additional tax every year just because I own it…

The initiative would call on voters to vote “YES” to eliminate the PPT in order to: “provide an immediate tax cut for small businesses by ending the unfair double tax on personal property that businesses in other states do not have to pay.”

The initiative cites that the proposal would “make Michigan more competitive, which will help local communities attract more businesses and create more local jobs.

August 5th 2014 is a long ways away  – but I would encourage business owners and people who care about the business community to contact the GRACC, or the MMA to learn more about this prospective ballot initiative.

 

email: Jeshua@dwlawpc.com

http://www.dwlawpc.com

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