Business Services Industry
Delphi, Visteon lobby to extend tax break.(News)
Crain's Detroit Business, February, 2005 by Lane, Amy
Byline: Amy Lane Automotive suppliers Delphi Corp. and Visteon Corp. are lobbying to continue a multimillion-dollar tax break on sales to their former parent companies. Senate Bill 203, introduced last week by Sen. Shirley Johnson, R-Troy, would continue a single-business-tax exemption granted by the Legislature in 1999.
The exemption, which has collectively saved Visteon and Delphi $100 million, allows the companies to forgo paying SBT on sales to their former parents. Troy-based Delphi spun off from General Motors Corp. in 1999 and Van Buren Township-based Visteon separated from Ford Motor Co. in 2000. The products the companies produced for their parents were not factored into the SBT before the spinoffs, and the 1999 legislation continued that...
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