Michigan's income tax rate dropping for 2023: state treasurer
Government & Economy - Lehto Live • 14m
Michigan's personal income tax rate will decrease from 4.25% to 4.05% in 2023, as state revenues surpassed inflation and triggered an automatic cut under a 2015 law. However, Attorney General Dana Nessel's office released an advisory opinion stating that the decrease in the tax rate will only last for one year, conflicting with Republican lawmakers' belief that the cut would be permanent.
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