Michigan income tax rate will increase in 2024, return to 4.25%
Michigan's individual income tax rate will rise in 2024, increasing from 4.05% back to 4.25%.
Michigan's individual income tax rate will rise in 2024, increasing from 4.05% back to 4.25%.
The average tax refund is shrinking this year, while more taxpayers owe money to the IRS.
State officials say the income tax is dropping from 4.25% to 4.05%, which is the first time the state will see a decrease to its lowest since 2007.
Differences in local tax rates across the U.S. can add up for those who live in certain states.
The law, enacted by the Republican-controlled Statehouse at the time, provides a mechanism to reduce the income tax rate when the percentage increase in the general fund exceeds the inflation rate during a fiscal year.
The richest Americans often use trusts and other legal tax dodges to pass their wealth to their heirs tax-free, lawmakers say.
Early IRS data provides a peek at what to expect for the millions of Americans who have yet to file their taxes.
Nation's tax collector says it has improved telephone service from last year, when just 1 in 10 calls were answered.
After a long legal fight, a House panel investigating the former president on Friday released new details of his tax returns.
Under new IRS rule, anyone who earned more than $600 this year by selling things online or doing gig work could face tax hit.
Tax Day 2016 is not on April 15 as usual. Instead, it has been moved to April 17 because of Washington D.C.'s Emancipation Day. Here is a look at why Tax Day is on April 15 to begin with, what Emancipation Day is, and when Tax Day can be moved to a later date.
The legislation requires employers to withhold city income taxes from paychecks of Detroit residents.
Snyder says the law will make it "easier for residents to file their tax returns correctly" and reduce the amount of incorrect property tax credits paid.
Tax breaks can make raising children a little more affordable.
Taxpayers have until Wednesday, April 15, 2015 to file their 2014 tax returns and pay any tax due.
A committee in the Michigan Legislature has voted to cut the state income tax rate from 4.25 percent to 4.05 percent by 2016.
The credit is worth up to $1,200 and is more substantial for seniors and lower-income earners.
Taxpayers could save $371 million in the next budget year and $873 million the year the reduction is fully phased in.
Anticipating a sizable budget surplus, Republican lawmakers want to enact a broad-based tax cut for residents this election year.
With the U.S. staring down the barrel of a default deadline, an economist says an agreement on the budget may be too little, too late.
Experts recommend using some type of guidance to navigate forms and maximize your returns.
So you've prepared your tax return and found that you owe. What should you do if you can't pay?
The IRS expects 75 percent of all 2012 returns will get a refund, so if you haven't started preparing your taxes yet, do it.
Detroit leaders are out to get what the city's owed -- unveiling a plan to collect on debts by both businesses and citizens alike.
Should Michigan residents get a tax credit for a child before it is born?
Downtown Detroit is booming with NFL fans, thanks to Day 1 of the draft. The influx is also a boost for area businesses.
The first day of the 2024 NFL Draft in Detroit did not disappoint. From the crowds to athletes and celebrities attending, Thursday also ended with hitting a record.
The Detroit Lions selected Alabama cornerback Terrion Arnold on Thursday in the first round of the 2024 NFL Draft.
NFL Commissioner Roger Goodell announced that more than 275,000 fans attended the first day on Thursday, according to a spokesperson.
Michigan football quarterback J.J. McCarthy is starting his NFL career with the Minnesota Vikings after being selected No. 10 in the first round of the 2024 NFL Draft.
The first day of the 2024 NFL Draft in Detroit did not disappoint. From the crowds to athletes and celebrities attending, Thursday also ended with hitting a record.
One of the NFL's biggest events begins Thursday in downtown Detroit. Aside from community events happening in the area, many people are here to see who the teams will select in the 2024 NFL Draft.
The Detroit Lions selected Alabama cornerback Terrion Arnold on Thursday in the first round of the 2024 NFL Draft.
Downtown Detroit is booming with NFL fans, thanks to Day 1 of the draft. The influx is also a boost for area businesses.
The woman charged in a deadly crash at a Monroe County birthday party that killed two children has posted bond two days later, according to the sheriff's office.
Ford Motor Co.'s first-quarter net income fell 24% from a year ago as the company's combustion engine vehicle unit saw revenue and sales decline.
Jeep maker Stellantis is planning to lay off an unspecified number of workers at its U.S. factories in the coming months to deal with a rapidly changing global auto market, the company said Tuesday.
Despite a small dip in U.S. vehicle sales, General Motors' first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles.
Workers at Mercedes-Benz factories near Tuscaloosa, Alabama, will vote next month on whether they want to be represented by the United Auto Workers union.
After leading the United Auto Workers on its historic strike against the Detroit Three automakers, Shawn Fain has been named on Time's list of the most influential people of 2024.
NFL Commissioner Roger Goodell announced that more than 275,000 fans attended the first day on Thursday, according to a spokesperson.
Harvey Weinstein's 2020 conviction on felony sex crime charges has been overturned by the State of New York Court of Appeals.
Many of the events taking place at the Corner Ballpark during the three-day event will be for kids, but go down Michigan Avenue, and there will be plenty for adults to do.
From art and architecture to entertainment, the Motor City is at the centerpiece of the draft.
Mary J. Blige, Cher, Foreigner, A Tribe Called Quest, Kool & The Gang, Ozzy Osbourne, Dave Matthews Band and Peter Frampton have been named to the Rock & Roll Hall of Fame.
It's been a decade since the Flint water crisis began. Residents told CBS News the scandal still weighs heavily on the city.
An unprecedented six of the first 12 picks were quarterbacks, an NFL Draft record.
In 1961, Ed Dwight was selected by President John F. Kennedy to enter an Air Force training program known as the path to NASA's Astronaut Corps. But he ultimately never made it to space.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
Harvey Weinstein's 2020 conviction on felony sex crime charges has been overturned by the State of New York Court of Appeals.
Federal officials say they're double checking whether pasteurization has eradicated the danger from possible bird virus particles in milk.
UnitedHealth said it paid the criminals behind attack that crippled hospitals and pharmacies to protect sensitive patient data.
The Michigan Legislature is considering two bills that could make getting access to hormonal birth control a little easier.
Health officials are warning consumers not to consume Infinite Herbs basil sold at some Trader Joe's and Dierberg's stores after 12 people were sickened.
Organic option is best when buying certain produce, especially blueberries, nonprofit group says in analysis of chemical residues.
The Detroit Lions selected Alabama cornerback Terrion Arnold on Thursday in the first round of the 2024 NFL Draft.
Michigan football quarterback J.J. McCarthy is starting his NFL career with the Minnesota Vikings after being selected No. 10 in the first round of the 2024 NFL Draft.
An unprecedented six of the first 12 picks were quarterbacks, an NFL Draft record.
The NFL draft gives players a chance to show their style and many take advantage with custom-made suits.
Big Ten quarterback competitions that started in the spring will carry over to the fall.
The Motor City is putting the final touches in place for the 2024 NFL Draft as it rolls into Detroit next week.
Michael Bickers, Regional President of PNC Southeast Michigan/Detroit, and Eric Poe, CEO of CURE Auto Insurance, appeared on CBS Detroit's Michigan Matters.
Businesses across Michigan are feeling optimistic about the future after weathering the historic 100-year health pandemic that impacted every company in one way or another.
Three leaders talked about how the region is doing to help people deal with mental health issues.
The issue of abortion and IVF was also discussed during the roundtable, along with thoughts on how they might sway voters this fall.
Highs near 80 with rain this weekend.
Downtown Detroit is booming with NFL fans thanks to Day 1 of the draft. The influx is also a boost for area businesses.
The first day of the 2024 NFL Draft in Detroit did not disappoint. From the crowds to athletes and celebrities attending, Thursday also ended with hitting a record.
Heat begins to build starting slowly on Friday before rain arrives Friday night.
Bringing sustainable solutions to traditionally marginalized communities is an initiative backed by the NFL. To promote sustainable farming, members of the NFL and officials from the White House took part in a ribbon cutting on Thursday for a GroShed in a Detroit community.