| Item | Description | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|---|---|---|---|---|---|
| 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 § 151(c) in effect January 1, 1988 and M.G.L. c. 62 § 3B(b)(3) Estimate: N.A. |
N.A. | N.A. | N.A. | N.A. | N.A. |
| 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. |
3 3 FY19 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: $345 Personal exemption for married couples: $570 Personal exemption for married taxpayers filing separately: $16 Dependents exemption:$88 Personal exemption for heads of households: $110 Limited income credits: $11 No tax status: $14