Sin Taxes Bringing In More Than Business Taxes

A Detroit News analysis of tax data shows smokers and drinkers paid more taxes last year than Michigan companies paid in net business income taxes.

According to the newspaper, 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 receiving $768.8 million in refunds from tax credits.

Taxes from the Michigan Business Tax and Corporate Income Tax are projected to total $244 million this year, while beer, liquor, wine and tobacco taxes will total about $280 million, according to Senate Fiscal Agency data.