Snyder OKs bills to keep intact, raise income tax exemption - WNEM TV 5

Snyder OKs bills to keep intact, raise income tax exemption

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LANSING, MI (AP) -

Michigan residents will get a $25 tax cut per individual within a few years under legislation signed into law by Gov. Rick Snyder.

The Republican governor signed the bills Wednesday at his Capitol office in Lansing. GOP legislative leaders who pushed for the tax relief joined him for the bill-signing event.

The measure also clarifies that Michigan's personal tax exemption continues, after concerns were raised that the recent federal tax cuts could eliminate it due to how the state code is linked to the U.S. code.

The main bill gradually raises the personal exemption until it gets to $4,900 in the 2021 tax year -- $600 higher than what it was scheduled to reach. That is a $25.50 tax cut per individual, or $102 for a family of four.

Copyright 2018 Associated Press. All rights reserved.

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