Michigan 2012 Withholding Tables – Payroll Software

The Michigan payroll withholding tables will remain the same for tax year 2012. A new rate will be in effect starting January 1, 2013.

Michigan 2012 withholding rate: The rate remains at 4.35 % for tax year 2012.

For 2013 and each tax year thereafter the rate is 4.25%.

Michigan employers and tax professionals are invited to check out our 2012 payroll software. Payroll Mate provides best value in payroll software for both businesses and accountants.

Personal exemption will remain the same at $3,700 and will be indexed to inflation beginning in 2013.

Also starting in 2013, new legislation phases out personal exemption for taxpayers with “total household resources” over $75,000 for single filers and $150,000 for joint filers. And eliminates personal exemption for taxpayers with total household resources over $100,000 for single filers and $200,000 for joint filers.

Every Michigan employer must obtain a Withholding Exemption Certificate (Form MI-W4) from each employee. The federal W-4 cannot be used in place of the MI-W4. The 2011 exemption amount is $3,700 per year times the number of personal and dependency exemptions allowed under the internal revenue code. An employee may not claim more exemptions on the MI-W4 than can be claimed on the employee’s federal income tax return.

For more information please visit the website of Michigan department of treasury at http://www.michigan.gov/taxes/ .


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