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In addition to property tax, the city levies an income tax of 2.4% on residents, 1.2% on non-residents, and 2.0% on corporations since 2013. [17] Revenue is also obtained from utility taxes, hotel excises and from the Detroit-owned Water and Sewer system that provides most of the fresh water and sewage treatment facilities within the ...
Maryland (all local taxes reported on state income tax form): All counties, and the independent city of Baltimore; Michigan: Many cities, including Detroit, Lansing, and Flint (most income above a certain annual threshold; reported on form issued by imposing city or on separate state form 5118/5119/5120 in the case of Detroit)
In 2023, Mayor Mike Duggan proposed a plan to tax land and buildings at different rates within the City of Detroit. The proposal, if passed, would raise tax rates on land by 300%, while lowering tax rates on buildings by 30%. [29]
Here are the most important changes for tax filing in 2023. Tax Filing Date. Taxes are due Tuesday, April 18. ... you may receive Form 1099-K. Prior to 2022, Form 1099-K was issued only if the ...
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Another big wave of relief came in the form of the expanded Child Tax Credit — at up to $3,600 per child for virtually all working families, it was the biggest credit of its kind in history ...
The city of Detroit and other public–private partnerships have attempted to catalyze the region's growth by facilitating the building and historical rehabilitation of residential high-rises in the downtown, creating a zone that offers many business tax incentives, creating recreational spaces such as the Detroit RiverWalk, Campus Martius Park ...
However, last year, the IRS pushed back the deadline for filing 2021 tax returns and for paying taxes owed because of the Emancipation Day holiday in Washington, D.C.
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