HB 1550 IN
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Summary
Increases the personal exemption to $1,500 in the definition of "adjusted gross income" for a taxpayer, or, in the case of a joint return, for each spouse. Increases the exemption for dependents to $1,500. Increases the exemption to $1,500 for the spouse of the taxpayer if a separate return is made by the taxpayer and the spouse and if the spouse had no gross income for the calendar year.
Sponsor (1)
- Carolyn Jackson Democratic · author
1 coauthor / cosponsor
- Gregory Porter Democratic · coauthor
Action history (3)
- Jan 21, 2025 Coauthored by Representative Porter · lower
- Jan 21, 2025 Authored by Representative Jackson C · lower
- Jan 21, 2025 First reading: referred to Committee on Ways and Means · lower
Subjects
TAXES; Adjusted Gross Income TaxesTAXES; ExemptionsTAXES; Local Income Taxes
Full text
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