According to The Tax Foundation, Michigan ranks number 48 in corporate tax rates. Only Delaware (49) and New Hampshire (50) have higher corporate tax rates. And as an added bonus, Michigan is number 45 for unemployment insurance tax rate as well.
Keep in mind that the Federal Government of the United States has the highest corporate tax rate in the world. The United States has corporate tax rates higher than Sweden, Luxembourg, Switzerland, Austria and Germany. The State of Michigan (corporate tax wise) is one of the most expensive places ON EARTH to do business.
Making matters worse, mix in the toxic combination of Obama’s draconian EPA and Jennifer Granholm’s green energy push (while forgoing the construction of actual power plants) that will significantly drive up electricity prices in the future.
Who would want to keep their business, let alone start one in Michigan?