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Michigan’s tax rate remains the same at 4.35% but the Personal Exemption Amount has increased to $3,600. From the michigan.gov web site. The 2009 exemption amount is $3,600 per year times the number of personal and dependency exemptions allowed under the IRC. An employee may not claim more exemptions on the MI-W4 than can be […]
For 2009, personal exemptions and standard deductions will rise and tax brackets will widen because of inflation adjustments announced today by the Internal Revenue Service. By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As a result, more than three dozen tax benefits, […]
States increasing their taxable wage bases in 2009: Idaho ($33,200) Illinois ($12,300) Iowa ($23,700) Minnesota ($26,000) Missouri ($12,500) Montana ($25,100) Nevada ($26,600) New Jersey ($28,900) New Mexico ($20,900) North Dakota ($23,700) Oklahoma ($14,200) South Dakota ($9,500) Washington ($35,700) Wisconsin ($12,000) Wyoming ($21,500). States with no change in 2009: Alabama ($8,000) Arizona ($7,000) Arkansas ($10,000) California […]