1. Michigan: Phasing Out the Controversial Retirement Tax
Michigan enacted sweeping legislation to roll back its 2011 retirement tax. This change restores broad deductions for both public and private pensions over a multi-year phase-in period.
Qualified taxpayers can choose between older, generous exemption systems or newer expanded subtractions. This flexibility gives you the ability to claim the deduction that yields the lowest tax bill.
The phase-in expands relief substantially each filing season. Check with the Michigan Department of Treasury to confirm your exact birth year qualifications.
Leave a Reply