Michigan may tax wealthy estates

Michigan may tax wealthy estates: "Michigan may tax wealthy estates
Affecting few, idea could be easier to sell

March 25, 2007

BY KATHLEEN GRAY

FREE PRESS STAFF WRITER

Gov. Jennifer Granholm's idea for a 2% tax on most services might be dead, but her proposal to impose a stiff tax on the estates of wealthy Michiganders is alive.

The tax between 8% and 16% on estates worth more than $2 million -- estimated at about 350 each year in Michigan -- is among Granholm's proposals to balance the state budget. It would generate $119 million in revenues for the 2007-08 fiscal year that begins Oct. 1 and more than $130 million in subsequent years."