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Like many Michigan retirees, John Harnois is looking forward to saving good money on his state income taxes, thanks to a repeal of the so-called "retirement tax" beginning in 2023.. Now, if ...
The filing deadline for most 2023 federal and state of Michigan income tax returns is April 15, 2024.
“HB 6061 would undo a nearly 30-year-old pension reform that has been working effectively to manage financial risks and personnel costs for state agency employers and which has helped taxpayers ...
In her January 2023 State of the State address, she called for repeal of the state's retirement tax; an increase in the state earned income tax credit from 6% to 30%, universal pre-kindergarten; investment in renewable energy such as wind and solar power; a repeal of Michigan's now defunct 1931 abortion ban; increasing education spending, and ...
The state employee system and the public school employee system administered by ORS make up 95 percent of all active plan membership in Michigan. ORS is responsible for the 18th largest public pension system in the United States and the 47th largest pension system in the world, managing combined net assets of nearly $67.8 billion.
Serving with a Republican legislature and Governor, Foster has voted on successful legislation to make Michigan a right-to-work state, repeal the Michigan Business Tax and replace it with the Corporate Income Tax, and eliminate the pension tax exemption for state employees, and has made drastic reforms to the state's K-12 education system ...
Michigan’s flat state income tax rate rose for 2024 to 4.25%, and the law surrounding the state’s pension deduction also changed, as part of a phaseout of the state’s three-tier retirement ...
LANSING — The personal income tax reduction of 2023 was intended to last for one year only, the Michigan Court of Appeals ruled Thursday, upholding the position of Gov. Gretchen Whitmer's ...
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