Repeal of Michgan Single Business Tax

The Michigan Legislature voted to move up the scheduled December 31, 2009 repeal date for the single business tax (SBT) to December 31, 2007. The vote resulted from an initiative petition filed with the Michigan Secretary of State. The initiative petition was quite similar to H.B. 5743, which was vetoed by Governor Jennifer Granholm on March 31, 2006. Since this initiative petition was approved by the Legislature, the governor cannot veto it.