![New year number 2024 on the calculator screen, at financial analysis desk](https://assets3.cbsnewsstatic.com/hub/i/r/2024/02/29/ae99c48c-21fd-4dd2-a37e-02251888e129/thumbnail/640x360/c44a90d24c38ae0c219b8b6c1da095bb/gettyimages-1706405881.jpg?v=5710b2ed1cee1bdfd30cb9c02455b43d#)
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%.
Watch CBS News
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?
Authorities believe alcohol was a factor in a Michigan crash where a semi-truck crashed into a vehicle that had its hazards on while stopped in a freeway lane, officials said.
Rep. Adam Schiff became the highest-profile Democrat to urge the president to step aside.
The bodies of two children were recovered Monday after a sailboat capsized on Lake Michigan over the weekend, officials said.
Vice President Kamala Harris is scheduled to visit Michigan Wednesday, marking the first Biden-Harris campaign event since the assassination attempt on former President Donald Trump.
Nominations for the 76th annual Emmy Awards were announced Wednesday, with "Shōgun," "The Bear," "Hacks" and "Baby Reindeer" all earning multiple major nods. See the full list of nominees for the 2024 ceremony here.
A 36-year-old man died after an equipment malfunction at a Michigan automotive manufacturing facility just days before the facility was scheduled to begin closing, officials said.
Authorities believe alcohol was a factor in a Michigan crash where a semi-truck crashed into a vehicle that had its hazards on while stopped in a freeway lane, officials said.
Rep. Adam Schiff became the highest-profile Democrat to urge the president to step aside.
The bodies of two children were recovered Monday after a sailboat capsized on Lake Michigan over the weekend, officials said.
Vice President Kamala Harris is scheduled to visit Michigan Wednesday, marking the first Biden-Harris campaign event since the assassination attempt on former President Donald Trump.
The Biden administration is awarding $1.7 billion to 11 "shuttered or at-risk" facilities in Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland and Virginia, to bolster electric vehicle production.
Throughout the next year, dozens of new zero-emission buses will be hitting the pavement in the city of Detroit, all thanks to a $30.8 million federal grant.
The company said the temporary layoffs will impact about 1,600 workers for the month of July.
American automakers are pushing back against a federal safety ruling that involves automatic emergency braking technology in new cars.
Dearborn Village Ford general sales manager Jay Sturtz says they're resorting to good old-fashioned pen and paper while they wait for CDK to come back online.
Nominations for the 76th annual Emmy Awards were announced Wednesday, with "Shōgun," "The Bear," "Hacks" and "Baby Reindeer" all earning multiple major nods. See the full list of nominees for the 2024 ceremony here.
"Big Brother" announced Tuesday the 16 new Houseguests who will move into the "Big Brother" house and, for the first time ever, have the power to vote in a 17th houseguest.
After many people criticized Andress' rendition of the National Anthem online, comparing her with Fergie, the singer says she's going to rehab.
Shannen Doherty had been battling cancer since 2015.
Richard Simmons devoted his life to making people sweat with his "Sweatin' to the Oldies" workout videos.
Rep. Adam Schiff became the highest-profile Democrat to urge the president to step aside.
"He was millimeters away from having his life expunged ... I'm sure the ear doesn't feel well," Eric Trump told "CBS Mornings" co-host Tony Dokoupil.
A young gas station operator in Wisconsin was stabbed to death on June 12. Authorities have never named a suspect in the murder until now.
Thousands of officers from multiple jurisdictions are in Milwaukee providing additional security for the convention.
The U.S. has contended with unrelenting temperatures this summer, and a map from NASA paints a dire picture of the scale of those persistent heat waves.
Rite Aid, which has already closed hundreds of stores, is shutting more locations in Michigan and Ohio.
Trinity Health's virtual nursing program uses teamwork and technology so bedside nurses can focus on what matters most: being there in person for patients.
Nationwide, the CDC says the COVID virus level in wastewater is now "high" for the first time since last winter.
A 39-year-old Michigan man has filed a lawsuit saying he lost his toes because he received delayed medical care while he was in custody.
Tahjana Lewis suffered burns to her chest, arms and legs, according to a recent lawsuit the Connecticut woman filed.
Joe "Jellybean" Bryant, a former Philadelphia 76ers and La Salle University basketball great and the father of the late, NBA legend Kobe Bryant, has died. He was 69.
The Detroit Lions will induct Hall of Fame wide receiver Calvin Johnson into the Pride of the Lions during the 2024 season.
Paris 2024 Summer Games organizers hope Olympic flame's glitzy arrival in the City of Light can help cast off shadow of low local enthusiasm.
Argentina won its second straight Copa America championship, overcoming Lionel Messi's second-half leg injury to beat Colombia 1-0 on Lautaro Martínez's 112th-minute goal.
Yohan Ramírez had two consecutive errors in the ninth inning, paving the way for the Detroit Tigers to beat the Los Angeles Dodgers 4-3 on Sunday for their second straight comeback win over the NL West leaders.
Gardner-White is a 112-year-old family-owned furniture retailer, and Stewart is the first female to serve as CEO of the company.
It's a focus on our physical well-being as we talk about the importance of oral health and its impact, particularly among children.
U.S. Energy Secretary Jennifer Granholm and U.S. Transportation Secretary Pete Buttigieg appear on CBS Detroit's Michigan Matters this Sunday.
The University of Michigan's Ross School of Business is celebrating its 100th anniversary this year.
The three top elected county leaders essentially run the Metro Detroit region.
Gardner-White is a 112-year-old family-owned furniture retailer, and Stewart is the first female to serve as CEO of the company.
Attorney Danielle Mayoras shares more on how you can protect yourself and your loved ones from financial exploitation.
Meteorologist Kylee Miller has your sunny NEXT Weather forecast.
With wedding season upon us, Charles Nemes from Nemes Rush Family Wealth Management shares more on why estate planning is crucial for couples.
Career coach Linda Taliaferro shares insight into how you can navigate workplace conflicts and better yourself.