To increase the $4,000 personal exemption that is currently allowed under the Michigan state income tax. The bill would immediately increase it to $4,300 and then gradually to $4,800 in 2021. Taxpayers can claim a personal exemption for themselves, their spouse and each dependent, and these are subtracted from the amount of income that is subject to income tax. The Senate has passed a version that increases the exemption to $4,700 by 2020.
105 Yeas / 1 Nay | |
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Excused or Not Voting (3) | |
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