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1.403 -Additional Exemption for the Elderly
| Item | Description | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|---|---|---|---|---|---|
| 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, §§ 3B(b)(1)(C) and (2)(C) Estimate: $25.7 |
22.9 | 23.5 | 24.5 | 25.1 | 25.7 |
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. |
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