Michiganders should see $50 of savings after the state income tax decreases to 4.05% for one year.
“Michigan’s strong economic position has led to a reduction in the state income tax from 4.25% to 4.05% for 2023,” Treasurer Rachael Eubanks said in a statement. “When Michiganders file their 2023 state income taxes in 2024, they will see the rate adjustment in the form of less tax owed or a larger refund.”
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