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1.405 -Dependents Exemption Where the Child Earns Income
| Item | Description | FY2011 | FY2012 | FY2013 |
|---|---|---|---|---|
| 1.405 | Dependents Exemption Where the Child Earns Income3
Taxpayers are allowed an additional exemption of $1,000 for a dependent child even when the child earns income against which a personal exemption can be taken. Comment: The estimate cannot be separated from the figure for the dependents exemption in endnote 3. Origin: IRC S. 151(c) in effect January 1, 1988 and M.G.L. c. 62 S. 3B(b)(3) Estimate: N.A. |
N.A. | N.A. | N.A. |
Key:
| ORIGIN | |
| IRC | Federal Internal Revenue Code (26 U.S.C.) |
|---|---|
| U.S.C | United States Code |
| M.G.L. | Massachusetts General Laws |
| Rev. Rul.; C.B. | Revenue Ruling; Cumulative Bulletin of the U.S. Treasury |
| ESTIMATES | All estimates are in $ millions. |
Footnote:
3 3 FY13 estimates for the basic personal exemptions and the no-tax status discussed in the introduction to the personal income tax are (in millions of dollars): Personal exemption for single taxpayers: $298 Personal exemption for married couples: $556 Personal exemption for married taxpayers filing separately: $14 Dependents exemption: $93 Personal exemption for heads of households: $99 Limited income credits: $14 No tax status: $15
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