Blog tagged as Taxation

Steve Liedel, chief legal counsel to former Gov. Jennifer Granholm, believes the mechanism used to determine a possible income tax rollback "likely violates Michigan's constitution," and could provide grounds for the current governor not to comply.

Legislative Democrats began movement Wednesday on what ultimately will be one large income tax cut/shift bill that is planned to include broader retirement income exemptions

Who would have guessed back in 2015 that the income tax reduction trigger crafted to give Republicans political cover during the gas tax hike vote would ever be activated?

Starting in the 2023 tax year, tax-free public pensions will be reinstated and tax exemptions will be available for employer donations and matches for 401(k)s under legislation that passed in the Senate 23-15 Thursday.

The Senate and House both approved legislation Thursday retroactively increasing Michigan's Earned Income Tax Credit (EITC) to 30% of the federal credit, aiming to provide an employment tax incentive and assistance to nearly 740,000 low income workers.