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2001 SESSION

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SB 980 Income tax; personal exemption amount.

Introduced by: Nick Rerras | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; personal exemption amount. Increases the personal exemption from $800 to $1,200 for the taxable year January 1, 2001, through December 31, 2001. For taxable years beginning on and after January 1, 2002, the personal exemption amount is equal to the personal exemption amount of the preceding taxable year adjusted by the percentage increase in the Consumer Price Index. The personal exemption amount can never be less than such amount for the preceding taxable year.


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