Hello, I'll be taking required minimum distributions (RMD) from my 401K and IRA accounts. Michigan changed the tax laws in tax year 2023 that retirement withdrawals from pensions and IRAs are exempted from state taxes with 25% for 2023, 50% for 2024, 75% for 2025, an 100% in 2026. Are RMD considered to be part of these withdrawals that therefore they are not taxed?
Yes.
RMDs are withdrawals from pensions and IRAs and benefit from the Subtraction of eligible retirement income from Michigan taxable income
Please read this Michigan Revenue document.
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