LANSING, Mich. (AP) — The state Legislature has given final approval to a bill intended to keep a recent court decision from costing Michigan $1.1 billion.
The Senate approved a business tax-related bill Wednesday to clarify what out-of-state companies owe in past taxes. In July, the Michigan Supreme Court ruled in favor of IBM in a dispute with the state.
Gov. Rick Snyder and legislators say they’re concerned the decision could affect 134 similar cases and lead to $1.1 billion in refunds to businesses, plus interest.
The bill headed to Snyder would limit the ruling to make sure only IBM benefits with an estimated $6 million refund. Snyder is expected to sign it, saying the measure reaffirms what lawmakers always intended.
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