Monday, October 1, 2012

New Michigan 2012 / 2013 Tax Rates

Effective October 1, 2012, the income tax withholding rate will change to 4.25% and the personal exemption amount will change to $3,950. The pension and/or retirement benefit withholding rate will also change to 4.25%, however, there is no adjustment to the monthly pension deduction amount. Withholding Tables have been updated.

If you are using a payroll system, then make sure to call the publisher to get the most up to date version. If you are doing payroll by hand, I highly recommend you call the state to get the latest withholding booklets.

The latest Michigan withholding tables can be found here: