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Wayne Michigan Form 1040 (Schedule A): What You Should Know
The tax brackets and a new filing requirement are the most significant changes to the Michigan Income Tax Ordinance in 2017. The new brackets will be effective July 1, 2017, for the following income levels: For single filers: 12,000 and above: married filing jointly: no change 22,500 to 36,000: 200 increase 36,000 to 46,000: 150 increase 46,000 to 74,000: 75 increase 74,000 to 99,000: 110 increase 99,000 to 120,000: 105 increase For Joint filers: 8,250 and above: 125 decrease 16,500 to 22,500: 100 decrease 22,500 and below: 50 change Annual Personal Exemptions The income limits for the Personal Exemptions will increase in 2024 to: 9,350 for single filers 17,150 for married joint filers The Personal Income Tax exemptions are indexed for inflation for those filing jointly. For more information, please see the MD TCD's website by clicking here. 2017 Income Tax Rate Schedule The 2024 tax rates and schedules for Michigan are shown in the income brackets that apply for the following income levels: For single filers: 12,000 and above: (Annual exemption) 6,900Â (First 9,350) 7,200 (Next 9,350) 7,300 (Next 9,350) 7,350 (Each additional 1,000 in first 9,350) 1,865 Annual Personal Exemptions The 2024 and 2024 Personal Exemptions are included on the state income tax schedule of a single tax return. The Personal Exemptions are calculated by determining the maximum adjusted gross income that can be exempt for a married filing jointly spouse, regardless of source of income. For both single filers and joint filers, the Personal Exemption is based on one's marital filing status.
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