Posted on 07/11/2014 7:10:21 AM PDT by MichCapCon
On Aug. 5, most voters will be focused on the primary elections for candidates. But there is another important issue on the ballot that day.
Voters will be asked to approve or reject legislation reforming Michigan's personal property tax. This is a tax businesses pay annually on the value of their equipment. A "yes" vote would eliminate this cost for small businesses and phase it out for manufacturing companies.
In Michigan, that means junkyards are paying taxes on the value of their dogs, hotels on their drapery, hair salons on their leftover shampoo, and bars on the worth of their pool cues. The tax forces these businesses to calculate the value of these items and more, figure out the depreciation, and send local municipalities $1.286 billion, according to a 2011 report.
This is separate from the state sales tax, where a fee is levied just once. The personal property tax also is different than the property taxes levied on land and buildings. The personal property tax deals with the value of all other business property, such as machinery, equipment and furniture.
(Excerpt) Read more at michigancapitolconfidential.com ...
Yes on prop 1 sounds right to me.
We have something like that here in Georgia....taxes on personal property not ordinarily covered under other “money grubbing government schemes”. Anyone that even thinks about putting anything down as an owned item like this is a fool. Just like the fools that once answered “yes” on federal forms about having anything applicable to “alternative minimum taxes”.
Whenever I get to questions about things like this, I write “not applicable.”
First they take a portion of your income ,then they charge you a fee when you spend what they didn’t take,then they charge you an annual fee for allowing you to keep those thing you bought.
And people call this a “free” country.
And God help you if you manufacture something to sell.
Government is there to steal from you. Not to help you.
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