Friday, November 21, 2008

Michigan's "Tax of the Month"

Welcome to Michigan's Tax of the Month. One could not come up with a better way to post on a web-log in perpetuity than to catologue the taxes levied by their home state. The many states nation-wide have all developed pernicious methods of monetary extraction from the citizenry. In the spirit of public information, let's highlight taxes as they infect our liberties here in Michigan.


Year adopted: 1967

Basis of tax: A direct tax on income

The measure of tax base: Federal adjusted gross income of individuals, estates and trusts, with certain adjustments.

4.35% from October 1, 2007, until September 30, 2011.4.25%

from October 1, 2011, until September 30, 2012.4.15%

from October 1, 2012, until September 30, 2013. 4.05%

from October 1, 2013, until September 30, 2014.3.95%

from October 1, 2014, until September 30, 2015.3.9% October 1, 2015 and thereafter.

2006-07 Collections:

$8,129,400,000 gross; $1,687,300,000 refunds and credits; $6,442,100,000 net.


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