Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2012

Governor's Budget Recommendation FY 2012

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1.403 -Additional Exemption for the Elderly


Item DescriptionFY2010 FY2011 FY2012
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:  $26.0
25.1 25.4 26

Key:

ORIGIN  
IRCFederal 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.


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