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Top marginal tax rate in Michigan could reach 53.59% under Biden plan
Under Democratic presidential candidate Joe Biden’s federal tax plan, the top marginal tax rate in Michigan could hit 53.59%, according to a new analysis by the Tax Foundation.
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Michigan depends on property taxes for 34.6% of its state, local funds
Michigan relies on property taxes for 34.6 percent of its total state and local revenues, according to a Tax Foundation ranking of the 50 states.
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Michigan places tax of 20 cents per gallon on beer
State taxation on beer in Michigan amounts to 20 cents per gallon, according to an analysis from the Tax Foundation based on January 2019 data.
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Michigan collects 51 cents per gallon in wine taxes
The wine excise tax in Michigan amounts to 51 cents per gallon, according to a Tax Foundation study based on January 2019 data.
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From Michigan Business Daily
Income taxes make up 24.2% of total state, local levies in Michigan, study finds
State income tax revenues in Michigan represent 24.2 percent of its total state and local levies, according to a new study by the Tax Foundation.
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From Michigan Business Daily
Michigan pension plans are 65% funded, study finds
The funded ratio of the Michigan public pension plans stands at 65%, according to a new analysis from the Tax Foundation based on fiscal-year 2017 data.
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From Michigan Business Daily
Michigan ranks 10th highest on distilled spirits taxes
The state distilled spirits excise taxes in Michigan ranked 10th in the nation, according to a new analysis from the Tax Foundation based on January 2019 data.