1.403 -Additional Exemption for the Elderly

Item	Description	FY2008	FY2009	FY2010
1.403	Additional Exemption for the Elderly A taxpayer age 65 or over is entitled to an additional exemption against "earned" income of $700 ($1,400 for a married couple filing jointly if both spouses are age 65 or over). Origin: M.G.L. c. 62, S. 3B(b)(1)(C) and (2)(C) Estimate: $24.9	23.6	24.2	24.9

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.