Michigan Treasury Announces 2024 Income Tax Rate for Individuals, Fiduciaries

The Michigan Department of Treasury Feb. 28 announced the 4.25 percent income tax rate for individuals and fiduciaries for the 2024 tax year. The rate applies to individuals and fiduciaries who are subject to tax under Part 1 of the Income Tax Act, MCL 206.1 et seq. Individuals and fiduciaries with questions about the effect of the rate on the amount of tax being withheld from their income should contact their employers and administrators directly. [Mich. Dep’t of Treasury, 2024 Year Income Tax Rate for Individuals and Fiduciaries, 02/28/24]

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