Sec. 12001. Increased exemption for individuals
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Section 55(d) is amended by adding at the end the following new paragraph: In the case of any taxable year beginning after December 31, 2017, and before January 1, 2026— paragraph
(1)shall be applied— by substituting $109,400 for $78,750 in subparagraph (A), and by substituting $70,300 for $50,600 in subparagraph (B), and paragraph
(3)shall be applied— by substituting $208,400 for $150,000 in subparagraph (A), by substituting $156,300 for $112,500 in subparagraph (B), and in the case of a taxpayer described in paragraph (1)(D), without regard to the substitution under subclause (I). In the case of any taxable year beginning in a calendar year after 2018, the amounts described in clause
(ii)shall each be increased by an amount equal to— such dollar amount, multiplied by the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2017 for calendar year 2016 in subparagraph (A)(ii) thereof. The amounts described in this clause are the $109,400 amount in subparagraph (A)(i)(I), the $70,300 amount in subparagraph (A)(i)(II), the $208,400 amount in subparagraph (A)(ii)(I), and the $156,300 amount in subparagraph (A)(ii)(II). Any increased amount determined under clause
(i)shall be rounded to the nearest multiple of $100. . The amendments made by this section shall apply to taxable years beginning after December 31, 2017.