Governor Rick Snyder’s tax increase on both private and public pensions was recently upheld by the Michigan Supreme Court. Only a portion of the new law didn’t pass muster with the high court since, in the courts opinion, it created a graduated income and thus is considered illegal.
This was certainly one of the more controversial tax provisions that the Legislature put forth in that it increased taxes to individuals while at the same eliminated $1.8 billion in business taxes through the elimination of the Michigan Business Tax.
For the full article see the link below.
http://www.detnews.com/article/20111119/METRO/111190346/1409/metro/Mich.-Supreme-Court-upholds-tax-on-pensions
