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House to Hold Hearing on Replacement of Use Tax on Services Revenue

November 8, 2007

November 8, 2007.  House Tax Policy Committee noticed a committee meeting for today November 8 at 10:30 to consider legislation  to repeal the use tax on services and replace the revenues with an MBT "surcharge"  different than the one passed by the Senate yesterday.  The draft substitute for HB 5408 includes a permanent surcharge, rates of 32.9% in 2007, and 27.3% in 2008 and after (calculated after apportionment and before credits), and a $2 million cap per taxpayer on the surcharge portion.