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A major state income tax overhaul in Michigan was signed into law earlier in 2023 by Gov. Gretchen Whitmer, including benefits for families who may be living paycheck to paycheck as they work ...
A 2015 road funding law, signed by former Republican Gov. Rick Snyder when the GOP also controlled the state Legislature, called for a rollback in the personal income tax rate in the event state ...
But Michigan's earned income tax credit now is calculated based on 30% of the federal credit each year in 2022, 2023 and 2024. The maximum earned income tax credit in Michigan is $2,229 for 2023 ...
The Michigan Legislature is the legislature of the U.S. state of Michigan. It is organized as a bicameral body composed of an upper chamber, the Senate, and a lower chamber, the House of Representatives. Article IV of the Michigan Constitution, adopted in 1963, defines the role of the Legislature and how it is to be constituted. [2]
State income tax is imposed at a fixed or graduated rate on taxable income of individuals, corporations, and certain estates and trusts. These tax rates vary by state and by entity type. Taxable income conforms closely to federal taxable income in most states with limited modifications. [2]
Currently, the majority of Utah's aggregate sales taxes are in the range of 6.1 – 8.35%. Utah has a 16.350% sales tax on rental cars in Salt Lake City. [192] The sales tax on food and food ingredients is 3.0% statewide. This includes the state rate of 1.75%, local option rate of 1.0% and county option rate of 0.25%.
Earlier this year, Whitmer signed a tax overhaul to provide relief for retirees and low-income earners in Michigan. The new law expands the state's EITC from 6% of the federal credit to 30%.
Cannabis in Michigan is legal for recreational use. A 2018 initiative to legalize recreational use (the Michigan Regulation and Taxation of Marihuana Act) passed with 56% of the vote. State-licensed sales of recreational cannabis began in December 2019. Medical use was legalized in 2008 through the Michigan Compassionate Care Initiative.
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