A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” by amending sections 30, 701, 703, and 711 (MCL 206.30, 206.701, 206.703, and 206.711), section 30 as amended by 2023 PA 4, section 701 as amended by 2024 PA 177, section 703 as amended by 2016 PA 158, and section 711 as amended by 2018 PA 118.
The legislation amends the Income Tax Act of 1967 to adjust taxable income calculations, introduce overtime compensation deductions starting in 2026, modify retirement and pension benefit deductions, and refine withholding requirements for various entities, with significant changes impacting employers, flow-through entities, and specific taxpayer groups.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
