SBT surchage bites hard on some small businesses

Link: MBT 'sticker shock' surprises business - Crain's Detroit Business.

Jerry Grubb, treasurer and co-owner of Wee Discover Child Daycare & Learning Center, had expected that Michigan's switch to a new tax structure would increase his business taxes.

But not by more than 324 percent.

His reaction when he learned his taxes were rising from $1,990 under the former Single Business Tax to $8,440 under the new Michigan Business Tax?

“You can't print it,” said Grubb, who with his wife owns the 28-employee Waterford Township business. “I'm not very happy about it. That is an amount I could have given as raises, used to retain key people with a higher wage rate. It's certainly going to impact the bottom line.”

The MBT is hitting many companies with unexpected large increases as they run projections and prepare for their first quarterly estimated payments due April 15.

Comment -- Reducing or eliminating the 22% MBT surcharge is a top priority for SBAM.  In fact, it's a key goal in our Entrepreneurial Policy Agenda.

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