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Frequently Asked Questions Regarding the State's Finances

The following questions provide an easily understandable overview of Michigan's finances. To find the answer to a particular question, click on it. Where appropriate, answers may include links to additional, more detailed information. We are interested in hearing your thoughts or suggestions regarding the questions and answers. Use this link to submit comments.

FAQ
  State Finances
How much tax does the state collect?
 
Answer:

During fiscal year 2008, the state collected $26.1 billion in taxes. Five specific taxes comprised 81.9% of the taxes collected: personal income tax (31.3%), sales tax (26.0%), single business and Michigan business tax (9.5%), property tax (8.0%), and motor vehicle and fuel tax (7.1%). Below is a 10-year history of revenues for these five taxes:

Tax Revenue (Fiscal Years 1998-2008)


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