PG Calc Blog

The latest on planned giving from PG Calc.
Read our posts for comments on the latest topics and issues in planned giving. We hope you find our posts timely and interesting, and we hope you'll share your perspective with us!

Michigan Amendment Exempts Gift Annuity Payments From Withholding

As noted in the March eRate, Michigan  revised its tax law to provide for withholding of Michigan income taxes from pension and annuity payments, effective January 1, 2012.  While the revision did not specifically mention gift annuities, it did appear that in certain circumstances they could be subject to the withholding requirement.