MI - Repayment of Michigan’s $3.2 billion Unemployment Trust Fund balance to the U.S. Treasury:

MI - Repayment of Michigan’s $3.2 billion Unemployment Trust Fund balance to the U.S. Treasury:

 
Because the transaction was completed before year end 2011, the State and its business community will experience significant interest savings, FUTA tax credits will be restored, future tax penalties will be avoided and the solvency tax on Michigan employers will be eliminated.
 

Read the full release: http://www.michigan.gov/treasury/0,4679,7-121-1755_1963-268192--,00.html

 
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