In the State of Michigan, How much do people get back when claiming a dependent on your taxes?

Answer 1

This would depend on how much you make, if you qualify for the homestead tax exemption and many things.

We can't tell you how much you are going to get back in taxes.

I will tell you this, with the increase in income tax (from 3.9% to 4.35%) I predict many of us are going to be paying in this year.

And guess what? Next year the legislaters are going to be in the same boat and they will raise user fees or taxes again.

They never fix anything, just push problems onto the next elected officials. Idiots.

Answer 2

For federal, you get an exemption in 2007 of $3400 - how much you save in taxes depends on your bracket. If the dependent is your eligible child, you also get a $1000 tax credit which means that much comes directly off of your tax is you owe that much - if your tax is under $1000, the credit will reduce it to zero. This is for all states, not just Michigan.

For state tax in MI there is also an exemption for dependents, similar to but not exactly the same as federal. No child tax credit though at state level.