Mich. Senate OKs Bill Stopping $1.1B Tax Loophole Payout
By Ama Sarfo ( September 11, 2014, 3:25 PM EDT) -- Michigan's Senate on Wednesday passed legislation to prevent the state from possibly paying up to $1.1 billion in tax refunds following a recent state Supreme Court ruling in favor of IBM Corp. that could allow out-of-state companies to choose their tax apportionment formula for the 2008-2010 tax years....
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