Action Alert: Help SBAM eliminate the PPT!
May 10, 2012
The State Senate is preparing to vote on an eight-bill package that would phase out the State Personal Property Tax (PPT) on manufacturing equipment while also drastically reducing PPT obligations on commercial property. After the business tax reforms approved last year, Michigan is poised to eliminate another uncompetitive tax and take a leap forward in the reinvention of Michigan’s economy.
SBAM is a strong advocate for substantially reducing, and eventually eliminating, the Personal Property Tax. While we understand local units of government rely heavily on the revenue generated through the PPT, this antiquated system of taxation should ultimately be eliminated for all taxpayers. We agree that a measured phase out is in order and are encouraged by this significant first step.
The full Senate is expected to vote on the package this week and opponents of the reform are working tirelessly to prevent its approval. Please contact your state senator today and let them know how eliminating the Personal Property Tax will help you grow your business. SBAM stands ready to assist you in communicating with your elected official. Complete information, as well as a sample letter, is available. Please click here (and then click on ‘Eliminate Personal Property Tax’) to register your support for this very important small business reform effort.