by Liz Gullett | Jan 19, 2024 | Liz Gullett
Michigan’s state income tax would be reduced to 3.9% under a proposal introduced by Representative David Martin (R-Davison). Key Points: Michigan’s current state income tax rate is 4.25%. The rate temporarily lowered in 2023 to 4.05% under a 2015 law. According to the...
by Liz Gullett | Dec 15, 2023 | Liz Gullett
Beginning February 13, 2024, more than 700,000 Michigan households will receive an average of $550 in Working Families Tax Credit checks. The new checks are part of the $1 billion in tax cuts Governor Whitmer signed into law earlier this year. Working Families Tax...
by Liz Gullett | Apr 14, 2023 | Liz Gullett
In a potential sign of a slowing economy, March revenue numbers came in below the prior year and less than previous projections. Major taxes and net lottery revenue was $2.1 billion for March 2023, down 21.5% from the prior year and $104.5 million below Senate Fiscal...
by curtis@digitalliance.com | Apr 3, 2023 | Liz Gullett
Driven by low unemployment, strong business growth, and an overall strong economy, Michigan’s income tax rate will decrease to its lowest level since 2007. Michigan’s larger nonprofits are eligible for grant funding through the Department of Labor and Economic...
by curtis@digitalliance.com | Apr 1, 2023 | Liz Gullett
Driven by low unemployment, strong business growth, and an overall strong economy, Michigan’s income tax rate will decrease to its lowest level since 2007. In 2015, Michigan enacted a law requiring a temporary reduction of the state income tax if the general fund...
