The investment advice community does not want its services to be taxed in MI. That's certainly predictable. But this article highlights the industry's novel reasoning in why it shouldn't be taxed.

"In a letter to Michigan State Senator Nancy Cassis and Steve Bieda, Chairman of the Michigan House Tax Policy Committee, the Washington-based ICI said that imposing the tax would harm Michigan residents by discouraging them "from seeking financial advice to ensure their retirement security."