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Federal Tax Cut Could Trigger $1.4 Billion Michigan Tax Increase

[Bloomberg, Alex Ebert January 5, 2018]

While economists argue there is ambiguity to the situation, state officials have called on legislators to remedy the problem through a new law ensuring taxes don’t go up for Michiganders. Some, such as Patrick Anderson, principal and CEO of the Lansing, Mich.-based Anderson Economic Group LLC, have argued the state should take an interpretive stance that the federal law doesn’t eliminate the exemption, but only lowers it to $0, allowing Michigan’s $4,000 state exemption to survive.

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