Treasury is reviewing the recently enacted tax law changes, including the new Marijuana Wholesale Tax. Developing clear and accurate information for tax stakeholders is our top priority. This guidance will be posted to our website in the coming weeks.
How will the economic impact payments (CARES Act and COVID Tax Relief Act stimulus payments) affect a Michigan Individual Income Tax Return (MI-1040)?
The economic impact payments are not included in federal Adjusted Gross Income (AGI) or in Michigan taxable income.