Tax Policy & Finance

Federal Tax Law Provides Credits for Paid Family Leave

Employers should be aware that the new federal tax law includes an employer credit for paid family leave. The provision was developed as an alternative to state and federal paid leave mandates. The goal is to incentivize employers to offer paid family leave. Employers that currently provide paid family leave and those considering adding it should take a close look at this new credit and address their options with a tax professional.

Chamber Closely Monitoring Cybersecurity Liability Legislation

Cybersecurity is a growing issue for businesses and individuals throughout the world. Over the last few years, we have seen unprecedented breaches of computer systems releasing millions of records containing sensitive personal information. There is no denying that this developing issue deserves attention. However, legislation recently introduced by State Senator Darwin Booher (R-Evart) to combat this problem here in Michigan goes too far too fast. 

Unemployment Taxes Projected to Decrease in 2018, Thanks to Reforms Pushed by the Chamber

Good News! Michigan businesses are expected to see an unemployment insurance (UI) tax reduction in 2018, thanks to comprehensive reforms pushed by the Michigan Chamber in 2011. The state estimates unemployment insurance tax rates will decrease by an average of 4.5 percent in 2018. Further tax relief is expected in July of 2020.  

On Heels of Federal Tax Reform, Tax Cut Fever Sets Hits State Lawmakers

Discussions about making simple technical changes to the State’s income tax to conform with recent federal changes quickly turned into action by state some state lawmakers to provide Michigan taxpayers with significant tax cuts. 

Below is a list of bills recently introduced to provide Michigan taxpayers some personal income tax relief:

SB 748 (Brandenburg) – Increases personal exemption to $5,000

Chamber Holds Treasury's Feet to the Fire; Backs Legislation to Provide for Refunds on Overpaid Taxes

The primary responsibility of the Department of Treasury is to promote and enforce tax compliance. Taxes owed should be paid -- nothing more, nothing less. Unfortunately, there are situations where taxpayers who overpay their taxes are not able to get a refund on the overage. That is unacceptable and the Michigan Chamber is fighting back!

Chamber Corrects Unfair Deadlines for Filing PPT Exemptions

Chamber-backed legislation to provide fairer deadlines for filing Personal Property Tax exemption forms was sent to the Governor last week. This is great news for filers who currently have no recourse if they fail to meet the February 20th deadline for submitting eligible manufacturing personal property (EMPP) tax exemption claims. The Governor is expected to sign the legislation.