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2016 SESSION

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HB 693 Income tax, state; adjusts standard deduction for inflation.

Introduced by: Betsy B. Carr | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Standard deduction; adjusted for inflation. Adjusts the individual income tax standard deduction annually beginning with the 2017 taxable year by the percentage increase in the Consumer Price Index for All Urban Consumers (CPI-U), for all items, from July 1 through June 30 for the year immediately preceding the taxable year.


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