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A reduction last year in the state income tax rate was temporary, according to a unanimous ruling Thursday by a three-judge Michigan Court of Appeals panel.
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Michigan's income tax rate is dropping by 0.2 percentage points next year. The state treasury department says it will save the average Michigan family about $50.
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The opinion’s release comes as the state is preparing to release its annual financial report, which is widely expected to show a windfall well above inflation.
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"Many Detroiters were leaving money on the table," said Priscilla Perkins, the President and CEO of the Accounting Aid Society.
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Governor Gretchen Whitmer vetoed a bill Friday that was sent to her by the GOP-controlled Legislature to reduce the state’s income tax rate.
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The governor called for repealing the state’s pension tax and increasing the earned income tax credit that helps low- and moderate-income workers. Meanwhile, republicans countered with a call for reducing income taxes for all individuals and corporations.
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Governor Gretchen Whitmer’s administration wants to give an extra $70 million to cities in Michigan hurting from a decline in income tax revenues.A total…
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Fair Tax Michigan is a self-proclaimed grassroots coalition hoping to add a graduated income tax proposal to the ballot this fall.The group submitted…
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The top 1% of American households owned $25 trillion in 2016. That's nearly 30% of the nation's household wealth. And it's $7 trillion more than the…
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Michigan drivers will get a tax cut, and those who owe extra fees assessed for certain traffic infractions will see them waived under bills approved by…