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Rick Snyder is tying lots of strings to the extra cash he's offering public schools, universities and communities in next year's budget. income michigan rate state tax 10 Feb 2012 U.S. Senator Portman?s Corporate Tax Plan to Include Low Repatriation Rate A proposal allowing U.S. companies to pay a reduced tax rate on overseas profits they bring home will be included in corporate tax overhaul legislation that Senator Robert Portman said he plans to unveil soon. income michigan rate state tax 10 Feb 2012 Michigan budget: Snyder ties school funding to score Governor Rick Snyder, center, answers questions from legislators as he releases detail of the state budget in Lansing Thursday Feb. 9, 2012 . In foreground is Lt. Gov. Brian Calley and in the background is State Budget Director John Nixon. income michigan rate state tax 10 Feb 2012 Low-Income Working Poor Hit Hardest by Michigan Tax Changes A new report by the Michigan League for Human Services says that Gov. Rick Snyder's tax package will mean an 83 percent loss from the eliminated Michigan Business Tax revenue and a 23 percent increase in individual income taxes. The governor's package was signed last year and goes into effect in 2012. Full implementation will occur in fiscal year 2013. 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