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The Michigan Department of Treasury said the official start date of the 2024 tax season will be Jan. 29, as well. ... changes hit Michigan income tax returns. A major state income tax overhaul in ...
A complex tax change faces Michigan retirees ... be able to consider using the new Michigan tax law. We're not talking about across-the-board relief in 2023, though, and the rules remain far from ...
But the tax law, which is retroactive ... The changes to Michigan's earned income tax credit mean that many families will be receiving a great deal more money when they file their 2023 state ...
Gov. Gretchen Whitmer announced Thursday that 700,000 Michigan households will receive an average of $550 in early 2024. 700,000 Michigan households will get additional Earned Income Tax Credit ...
The state treasurer of Michigan functions as the chief financial officer for the U.S. state of Michigan.The state treasurer oversees the collection, investment, and disbursement of all state monies, and also administers major tax laws, safeguards the credit of the state, and distributes revenue sharing monies to local units of government.
The Tax Cuts and Jobs Act of 2017, signed into law by President Donald Trump, capped the total SALT deduction at $10,000 for the tax years 2018 through 2025. [24] The bill also increased the standard deduction, which significantly reduced the number of taxpayers who claim the SALT deduction. [25]
In 1919 Michigan first signed the trunklines, the second state after Wisconsin to do so. [12] The first ferry service was started on July 1, 1923, linking Michigan's Upper and Lower peninsulas. The first gasoline tax was enacted in 1923 at the rate of $0.02/gal (equivalent to $0.36/gal in 2023 [13]), but vetoed by Governor Alex Groesbeck. [14]
For the 2023 tax year, the Earned Income Tax Credit (EITC) will increase to $7,430 for qualifying taxpayers who have three or more qualifying children, a $495 gain from $6,935 for the 2022 tax year.