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Michigan, Iowa go toe-to-toe in throwing away tax credit money

May 11, 2010

Michigan is all-in for the economic development tax credit game. The results could rival Iowa's film credit fiasco, reports theblogprof:

When an audit asked the question of what other shenanigans were happening with taxpayer money, they found plenty. From The Detroit News: Michigan audit: Some firms didn't comply with tax credit requirements. It's not until later in the article that you get the key nuggets of info:

The auditor general's review of 15 out of 27 MEGA tax credits awarded during fiscal 2008-09 found that two-thirds of the companies didn't submit complete data needed so the Strategic Fund could validate the tax credits claimed. It also found a quarter of the nearly 4,800 employees counted toward the jobs totals companies were required to meet were potentially ineligible, resulting in companies getting tax credits they likely shouldn't have received.

No word on whether the Michigan credit scammers got Benzes or IPods out of the deal.

Related: Let them eat canapes