Tagged: taxes

Nonprofits across Michigan are doing their annual end-of-year holiday push for financial donations. This will be the last time donors will be able to take advantage of a charitable tax credit.

A top Michigan Republican would like the makers of Jack Daniel's whiskey to consider moving north if the company decides to leave Tennessee.

House Speaker Jase Bolger has invited distillery managers to visit Michigan. He says the state's business climate is improving, and he noted the state's large supply of fresh water.

A spokesman for Jack Daniel's parent company said Friday there are no plans to visit Michigan or other places that have made similar offers since a dispute about taxes sprouted in Tennessee.

Some Moore County citizens have proposed a "barrel tax" for the Lynchburg, Tenn., distillery that could raise up to $5 million a year. They're asking Tennessee lawmakers to authorize a local referendum.  

The distillery is waiting to see what happens with the tax issue.

(*Editor's note - Michigan Radio, as a licensee of the University of Michigan, benefits from this tax credit)

The Michigan charitable giving tax credit expires at the end of the year, and charities are expecting the amount people donate to charities to drop as a result.

The charitable giving credit was ended as part of Governor Snyder's effort to pay for a business tax cut of more than $1.5 billion.

The credit allows Michigan taxpayers to essentially double their contribution when they give to community foundations, homeless shelters, food banks and public institutions (such as Michigan universities, museums, public libraries, and public broadcasting stations).

For a single filer, half their contribution can come off their Michigan tax bill up to a $200 contribution. Joint filers can take half of a $400 contribution.

Brian Conner of the Detroit News wrote a piece on the expected effects of the credit's expiration.

Conner writes that charities in Michigan don't quite know how much of their donations are tied to the credit, but the expect to take some kind of a hit.

The Lansing city council has moved a step closer to approving a tax deal that could lead to an expansion of  Capital Region International Airport.   A final vote is scheduled for next week.   

Businesses at the airport oppose the tax deal.     George Carr owns a hanger at the airport.  He says the tax deal is a 'killer'.

“This…pits the existing tenants and businesses against future tenants and businesses.   It does it by raising taxes…on existing businesses…so they can abate taxes on future businesses that may or may not locate there," says Carr.   

A city economic development official says  the proposal will help improve business at Lansing’s airport.  Bob Trezise with the Lansing Economic Development Corporation says the tax increase is a question of ‘fairness’.  

"We just merely are saying  ‘We wish you to pay a small amount to participate in supporting the airport, like all the businesses and residents of Ingham County do.  And you’re at the airport'," says Trezise.  

The tax deal must be in place by the end of the month so the airport can apply for a state development grant.

It turns out Michigan's state government might have brought in more money from taxes and fees than previously expected in the fiscal year that ended September 30th. That likely will set up a battle this fall over what to do with
the cash, which could total $285 million or more.

Democrats, outnumbered in the Michigan Legislature, say any extra money should be committed first to public schools and education programs that are dealing with budget cuts in the fiscal year that started this month.

Republicans, including those in Governor Rick Snyder's administration, are hesitant to commit to any spending before they have a clearer picture of state revenues.

Snyder's budget office is expected to close the books on the recently completed 2010-11 fiscal year in December.

Michigan Senator Debbie Stabenow says she doesn’t know if the president’s jobs bill will clear its first legislative hurdle later today.    That’s when the U.S. Senate is scheduled to take a procedural vote on the $447 billion ‘American Jobs Act’.   

Stabenow, a Democrat, says she’d like to see the legislation move forward.  

The state is holding a series of workshops to get the public’s feedback about historic preservation. A meeting is planned in Traverse City on September 21 and in Detroit on October 12. Another meeting will take place in Lansing in January.

People have already attended workshops in Kalamazoo and Midland. Their biggest concern so far is the lack of funding for preservation programs.

Laura Ashlee is with The State Historic Preservation Office.

“As part of the governor’s restructuring of taxes in Michigan for businesses he eliminated the tax credits for historic preservation. There will be a new program, we believe, and we’re going to work with the governor to implement that program.”

Ashlee says historic preservation also makes economic sense. She says people are employed when working on restorations. She also says historic buildings attract people and businesses to that area. 

The State Historic Preservation Office is in the process of writing its plan for the next five years. And the public’s feedback will help shape its plan.