1.405 -Dependents Exemption Where the Child Earns Income
Item | Description | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|---|
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. | 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 FY15 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: $314 Personal exemption for married couples: $556 Personal exemption for married taxpayers filing separately: $16 Dependents exemption: $92 Personal exemption for heads of households: $102 Limited income credits: $15 No tax status: $18
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