Blog tagged as Taxation

Although term-limited Sen. Wayne A. Schmidt (R-Traverse City) does believe in Christmas miracles, he highly doubts his legislation to gradually increase Michigan's Earned Income Tax Credit (EITC) to 30% will see the Governor's desk before 2022 concludes.

The crystal ball is a little murky as to what the lame duck session will tackle given all the unknowns out there, but one thing for sure, if lawmakers want to come back and spend a little more cash, they will have more than a "little more."

(Source: MIRS.news, Published July 27, 2022) Who'll be the Republican gubernatorial nominee isn't the only thing being settled Aug. 2. The fates of more than $1.13 billion in local bonds and millages are also in the balance. Here's a link to the spreadsheet.

 

Voters in Michigan's 83 co...

(Source: MIRS.news, Published 06/09/2022) Michigan's new economic incentive account would be replenished by the corporate and income taxes generated by the business activities initially spurred by the seed money, under Senate legislation that was addressed in committee Thursday.

Michiganders will vote May 3 on nearly 150 proposed local ordinances, millages and proposals across the state worth a total of $1.72 billion based on a MIRS review of the proposals.