Blog tagged as Taxation

Suit Filed To Keep Income Tax Rate At 4.05% 

08/25/23 12:33 PM - By Team MIRS - Comment(s)
Suit Filed To Keep Income Tax Rate At 4.05% 
A coalition of groups, individuals and lawmakers filed suit against the state treasurer Thursday in an effort to preserve the income tax cut that took effect this year.

States Revenues Down $93.6M Year To Date Revenues Off $1.74B

07/14/23 11:46 AM - By Team MIRS - Comment(s)
States Revenues Down $93.6M Year To Date Revenues Off $1.74B
Total collections on the state’s major taxes during the month of June came out to $2.974 billion – down $93.6 million from June of 2022.

Detroit Seeks To Hike Taxes On Blighted And Vacant Property

06/01/23 03:24 PM - By Team MIRS - Comment(s)
Detroit Seeks To Hike Taxes On Blighted And Vacant Property
Detroit Mayor Mike Duggan announced a new property tax plan Wednesday that would increase taxes on land while reducing building taxes, which he said would address the persistence of blighted and abandoned properties in the city.

Movie Theater Snacks Exempted From Sales & Use Tax

05/11/23 04:55 PM - By Team MIRS - Comment(s)
Movie Theater Snacks Exempted From Sales & Use Tax
Movie theater patrons who’ve turned to sneaking in their snacks could get a slight reprieve under a set of bills amending sales and use tax exemptions for bottled water, candy and soft drinks, but the Michigan Chamber isn't happy.

Tax Revenue Down 21.5% In March, SFA Has General Fund Down $200.7M

04/13/23 11:47 AM - By Team MIRS - Comment(s)
Tax Revenue Down 21.5% In March, SFA Has General Fund Down $200.7M
Michigan's tax revenue from major taxes and lottery revenue for March was down 21.5% from March and $104.5 million below the Senate Fiscal Agency's projection for the month, the agency reported Wednesday.