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Michigan income tax rate to drop to 4.05 percent, but just for one year

Michigan’s soaring revenues mean the state income tax rate will fall from 4.25 to 4.05 percent in 2023 tax year, according to the state treasury. The rate will go back up the next year following a legal opinion from Democratic Attorney General Dana Nessel. ....

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Attorney General rules anticipated Michigan income tax cut will only last 1 year

As a 2015 law appears poised to cut Michigan’s 4.25% state income tax, Attorney General Dana Nessel determined in a formal opinion the cut should only last a year, eliciting vocal disagreement from Republican legislators. ....

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