Senate MBT Impact Assessment Subcommittee Formed

Meetings scheduled across Michigan this month

Recently, the Senate Finance Committee formed a subcommittee to examine the effects of the new Michigan Business Tax (MBT) on businesses around the state. The Senate MBT Impact Assessment Subcommittee formed to analyze input from taxpayers, along with seeking suggestions for improvement of the MBT in order to bring recommendations for revision to the Senate Finance Committee in June. Comprised of Senator Mark Jansen (R-Gaines Twp) serving as Chair, along with Senator Jud Gilbert (R-Algonac) and Senator Mike Prusi (D-Ishpeming), the subcommittee aims to ensure that businesses are not suffering from any unintended consequences of the MBT. The subcommittee will work to make the new tax more fair and equitable.

The MBT Impact Assessment Subcommittee has already begun to hold hearings. In a recent hearing in Grand Rapids, local REALTORS® testified about the impact of the MBT on their businesses, especially in the commercial real estate sector. While Michigan attempts to recruit new business ventures, the treatment of commercial real estate under the MBT poses a significant disincentive to invest in our state. The negative effects of this tax on Michigan will ultimately lead to declining economic growth and less tax revenue.

Upcoming subcommittee hearings are as follows:

If you would like to attend any of the upcoming subcommittee hearings, please contact the MAR office at 1-800-454-7842 for additional details. For more information on the MBT and its effect on the commercial industry, please click here.

Get Involved!

MAR has several committees and opportunities for members to take action and make a positive difference for their business. The best way to get involved is through RPAC. Click here for more information.