Michigan income tax calculator
Michigan tax cuts: Calculate how proposals would impact you
Gov. Rick Snyder and Michigan legislators are trying to stave off a state tax increase for most taxpayers after the recent federal tax overhaul essentially eliminated the state exemption. Some Republican lawmakers want to go beyond Snyder's proposal, and are considering measures that would include an immediate income tax cut and bigger ones in later years ‒ which would trigger bigger drops in state revenue.
Enter the number of tax exemptions you take to see how the different proposals would affect you, and the state budget.
Gov. Snyder's proposal
| Year | $ per exemption (current law) | Taxpayer savings above current law | Impact on state revenue |
|---|---|---|---|
| 2018 | $4,000 ($4,000) | no savings | None |
| 2019 | $4,150 ($4,100) | $ | -$8 million |
| 2020 | $4,375 ($4,200) | $ | -$45 million |
| 2021 | $4,,500 ($4,300) | $ | -$60 million |
House proposal
| Year | $ per exemption (current law) | Taxpayer savings above current law | Impact on state |
|---|---|---|---|
| 2018 | $4,300 ($4,000) | $ | -$45 million |
| 2019 | $4,600 ($4,100) | $ | -$158 million |
| 2020 | $4,800 ($4,200) | $ | -$173 million |
| 2021 | $4,800 ($4,300) | $ | -$158 million |
Senate proposal
| Year | $ per exemption (current law) | Taxpayer savings above current law | Impact on state |
|---|---|---|---|
| 2018 | $4,500 ($4,000) | $ | -$111 million |
| 2019 | $4,600 ($4,100) | $ | -$184 million |
| 2020 | $4,700 ($4,200) | $ | -$150 million |
| 2021 | $5,000 ($4,300) | $ | -$189 million |
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