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Tax Summary
- Michigan has a flat income tax of 4% for all residents. The tax rate is scheduled to drop to 3.9% on July 1, 2004.
- Personal exemption for a single individual is $3,100. Exemption for a married couple is $6,200. Dependents earn an exemption of $3,200 each.
- Senior citizens can deduct part of their interest, dividends and capital gains in their gross income.
- Some cities may levy local income taxes, however, residents can get partial credit for these on their state tax returns.
- State sales tax is 6%.
- The state of Michigan does not allow city or local sales taxes.
- Property taxes are administered and assessed by local jurisdictions.
- There is a partial homestead exemption for local school operating taxes.
- There is a partial tax credit on homesteads for the blind, veterans and their surviving spouses, and those in the active military.
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