LANSING, MI (AP)-- A newspaper's analysis found that smokers and alcohol drinkers paid more taxes last year than Michigan companies paid in net business income taxes.
The Detroit News reports Monday that revenue from so-called sin taxes on tobacco, beer, wine and liquor totaled $290.5 million in the 2014 fiscal year, more than twice the $137.6 million net income taxes paid by Michigan businesses after $768.8 million in refunds from tax credits.
State revenue numbers say that since 2011, when Governor Rick Snyder and lawmakers delivered business tax relief, net business income taxes dropped 90 percent. The figures show that has depleted the state's main operating fund of $1.33 billion.
The percentage of general fund revenue from business income taxes also has dropped as tax credit payouts to companies have grown.