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The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year. [53] Exemptions can be quite substantial.
Numerous states with income taxes have considered measures to abolish those taxes since the Late-2000s recession began, and several states without income taxes have considered measures to institute them, but only one such proposal has been enacted: Michigan replaced its more recent value-added tax with a new corporate income tax in 2009.
The state treasury said it processed almost 464,000 returns that claimed the Michigan Earned Income Tax Credit for Working Families for tax year 2023 so far through the end of March. The average ...
The Michigan Treasury is processing both the supplemental checks for the 2022 tax year for the Michigan earned income tax credit and individual income tax refunds for the 2023 tax year.
The tax deadline for state of Michigan income tax returns is April 15, too. What's the standard deduction? The filing deadline for most 2023 federal and state of Michigan income tax returns is ...
Michigan's personal income tax is a flat rate of 4.25%. In addition, 22 cities impose income taxes; rates are set at 1% for residents and 0.5% for non-residents in all but four cities. [134] Michigan's state sales tax is 6%, though items such as food and medication are exempted.
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. It is an unelected office within the executive branch. [2] The current state treasurer is Rachael A. Eubanks ...
Rank County Per capita income Median household income Median family income Population Number of households 1 Oakland: $56,138 $85,991 $94,783 1,202,362