Top Rates in Each State Under Joe Biden’s Tax Plan
President Joe Biden’s tax plan would yield combined top marginal state and local rates in excess of 60 percent in three states: California, Hawaii, and New Jersey (also New York City).
4 min read
Michigan Tax Rates, Collections, and Burdens
How does Michigan’s tax code compare? Michigan has a flat 4.25 percent individual income tax rate. There are also jurisdictions that collect local income taxes. Michigan has a 6.00 percent corporate income tax rate. Michigan has a 6.00 percent state sales tax rate and does not levy any local sales taxes. Michigan’s tax system ranks 12th overall on our 2023 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Michigan is no exception. The first step towards understanding Michigan’s tax code is knowing the basics. How does Michigan collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures: How Does Your State Compare?
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Michigan Vapor Tax Bill Gets It Half-Right
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Facts and Figures 2020: How Does Your State Compare?
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Tax Trends at the Dawn of 2020
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