Mich. House Votes To Kill Business Personal Property Tax

Law360, New York (March 26, 2014, 2:54 PM EDT) -- The Michigan House of Representatives on Tuesday voted by an overwhelming bipartisan majority to pass a package of tax bills that would phase out the state’s personal property tax on qualifying industrial and commercial equipment.

According to supporters of the legislation, the current personal property tax caused businesses to avoid opening in Michigan or to halt commercial growth in the state, draining schools and local communities of essential tax revenue.

“Under the PPT, businesses throughout our state were being punished for expanding, so it was essential...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.