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State of Michigan Forms 5089

State of Michigan Forms 5089

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Instructions and help about mi income tax rate

it looks like our Michigan income T income tax rate is going down but then it's going to go back up the 2023 rate dipped slightly because State revenues increased enough to trigger a cut for taxpayers Republican lawmakers passed legislation offering that tax relief and they went to court hoping to keep the cut in place but a new court ruling has put that in Jeopardy business editor Rod Maloney is in The Newsroom to show us the impact on your tax bill Rod yeah good evening Kimberly you know this is the judge's decision it's the tone 30 pages and essentially it's saying that the Republican legislature in 2015 wrote a vague law not giving clarity as to whether these kinds of tax cuts are supposed to become permanent but that's not what the Republicans who brought the case say they say they intended for tax rates to ratchet down permanently if the income went up to a sufficient spot so for now though based on the decision that's not going to

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