LANSING — Fifteen Michigan companies would be able to keep up to $250 million in state taxes they withhold from employees’ paychecks, rather than turn it over to the Michigan Treasury Department, under bills reported out of a Senate committee Tuesday, with bipartisan support.

Steve Arwood, CEO of the Michigan Economic Development Corp., said that the “withholding abatement” program represents the first state incentive program designed to attract major employers, creating 250 to 500 or more high-wage jobs, since Gov. Rick Snyder successfully pushed for elimination of the MEGA tax abatement credits. (freep.com – Paul Egan) Click here to read the complete story!

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