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The filing deadline for most 2023 federal and state of Michigan income tax returns is April 15, 2024. Many taxpayers do not itemize deductions because the standard deduction is now fairly high.
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.
Michigan taxpayers find it hard to track the status of their refunds early in the 2024 tax season. Supplemental checks are being issued for an expanded state earned income tax credit in 2022 ...
This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service. Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state , the District of Columbia , and Puerto Rico .
For large businesses, the 0.55% Business Enterprise Tax is essentially an income tax. The state also has a 7.5% (2024) Business Profits Tax. [16] South Dakota – no individual income tax but has a state franchise income tax on financial institutions. [17] Tennessee – has no individual income tax.
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 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 ...
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