Insider Intelligence

Michigan’s pension tax would see significant changes under legislation passed by the Senate this week. Introduced by Senator Kevin Hertel (D-St. Clair Shores), the bill would repeal changes enacted in 2011 when the state was facing a recession. Taxpayers would be eligible to deduct a percentage of retirement or pension benefits and social security benefits […]

As part of her MI Back to School Plan, Governor Gretchen Whitmer called for a suspension of the Michigan sales tax on school supplies. The proposal seeks to save families money, help educators save on classroom expenses, and equip students with the tools they need for school. According to a recent report, rising costs will […]

Some Michigan residents would be eligible for a tax rebate under legislation introduced by Representative Nate Shannon (D-Sterling Heights). His bill would implement the MI Tax Rebate Right Now initiative, granting a $500 tax rebate for those filing taxes individually if their income is less than $125,000, or to those filing jointly if their income […]

This week, the House and Senate passed a $2.5 billion plan providing tax reductions. Named the MI Family Inflation Relief Plan, it includes: $500 per child tax credit for those under 19 Increasing the personal income tax deduction by $1,800 Raising the personal exemption for seniors 67 and older to $21,800 for individuals and $43,000 […]

Tax incentives tied to outsourcing jobs would be eliminated, under legislation introduced by Representative Nate Shannon (D-Sterling Heights). Under the current federal law, corporation deductions are permitted for certain expenses regarding outsourcing. According to the bill sponsor, this incentivizes corporations to outsource Michigan jobs. His proposal would eliminate those tax incentives. The legislation was referred […]

In another attempt to suspend Michigan’s gas tax for a period of time, Senator Roger Victory (R-Hudsonville) proposed a four-month holiday. The bill would suspend the state’s tax on gasoline and diesel fuels from May 15, 2022, through September 15, 2022. The state of Michigan currently imposes a 27.2 cents per gallon excise tax on […]

Under legislation headed to Governor Gretchen Whitmer, Michigan’s gas and diesel taxes would be suspended for six months. House Bill 5570 would suspend the 27.2 cents per gallon tax from April 1 through September 30. However, the Senate failed to get the two-thirds vote necessary for immediate effect, if the governor signs it into law, […]

As gas prices continue to rise, the Senate Finance and Transportation and Infrastructure Committees held a joint hearing on motor fuel taxes in Michigan. The senators heard a presentation from the non-partisan Senate Fiscal Agency (SFA), covering a myriad of subtopics. While the legislature has been debating a gas tax holiday, and several governors have […]