Of Counsel Mike Semes and Associate Matthew Sommer have written a Bloomberg Law article on the significance of the July 31 Michigan Supreme Court decision in Vectren Infrastructure Servs. Corp v. Dep’t. of Treas.
In the Aug. 14 article, they write that the state Supreme Court decided to let stand Michigan’s 70% tax on Vectren’s gain in asset sales, “even though Vectren conducted minimal business in the state.” They also note that the dissenting justices in this 4-3 decision “accused the majority of allowing Treasury to get away with a ‘grossly’ disproportionate money grab.’”