SB51 — Individual income tax: exemptions; increasing personal exemption, reducing income tax rate, lowering age for unrestricted deduction, and increasing deduction for certain retirement or pension benefits; provide for. Amends secs. 30 & 51 of 1967 PA 281 (MCL 206.30 & 206.51).

SB51 — Individual income tax: exemptions; increasing personal exemption, reducing income tax rate, lowering age for unrestricted deduction, and increasing deduction for certain retirement or pension benefits; provide for. Amends secs. 30 & 51 of 1967 PA 281 (MCL 206.30 & 206.51). · Informed CitizenrySB51 amends the Income Tax Act of 1967 to modify individual income tax rules. Key changes include increasing the personal exemption to $10,000, adjusting the dependency and additional exemptions fo…Open in Informed Citizenry