Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject to phase-out limitations. The personal exemption amount is adjusted each year for inflation. The Tax Cuts and Jobs Act of 2017 eliminates personal exemptions for tax years 2018 through 2025.
The exemption is composed of personal exemptions for the individual taxpayer and, as appropriate, the taxpayer's spouse and dependents, as provided in Internal Revenue Code at 26 U.S.C. § 151.
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States tax law, a personalexemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating...
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons,...
personal exemptions, as well as a minimum standard deduction in lieu of other personal deductions. Some states in the United States allow few personal deductions...
least 65 years of age. The standard deduction is distinct from the personalexemption, which was eliminated by the Tax Cuts and Jobs Act of 2017 for tax...
and personalexemptions for the taxpayer and dependents are adjusted annually to account for inflation. This results in yearly changes to the personal income...
expanded the earned income tax credit, the standard deduction, and the personalexemption, removing approximately six million lower-income Americans from the...
Maryland and Virginia, which are adjoining states, have different personalexemption amounts that cannot be seized for payment of debts. This amount is...
other taxable income, subject to some limits. Personal deductions: The former deduction for personalexemptions was repealed for 2018 through 2025. Standard...
33% and temporarily increased most excise tax rates to 30-50%. The personalexemption fell from $2,500 to $2,000 (married couples). A Normal Tax was levied...
tax brackets and reducing the number of tax rates), increasing the personalexemption from $750 to $1,000, reducing corporate tax rates (the top rate falling...
from 1998 to 2018 are publicly available. Data on basic personal amounts (personalexemption taxed at 0%) can be found on a year by year basis is also...
from 31% to 40%), and reduced the personalexemption amount from $1,500 to $1,200 (married couples). The exemption amount for each dependent was reduced...
Treasury summarized the tax changes as follows. phased-in increase in personalexemption amount from $600 to $750 repealed investment tax credit increased...
national income tax on personal income (Croatian: porez na dohodak), which is applied incrementally with rates of 0% (personalexemption = 3800 HRK), 24% (3800-30000...
the 2010 personalexemption ($3,650) and the standard deduction ($5,700) for single filers were together $9,350, only 14.1% of the 1913 exemption of $66...
regular tax and AMT. The deduction for personalexemptions is not allowed. Instead, all taxpayers are granted an exemption that is phased out at higher income...
income by an allowance for personalexemptions and either a fixed standard deduction or itemized deductions. One personalexemption is allowed per taxpayer...
less than 360,000 lei] can benefit from the following exemptions: – the monthly personalexemption, in the amount of 2250 lei; (Translation) "Calculator...
increasing the standard deduction and family tax credits, eliminating personalexemptions and making it less beneficial to itemize deductions, limiting deductions...
1948 reduced individual income tax rates 5-13 percent, increased the personalexemption amount from $500 to $600, permitted married couples to split their...
standard deduction from $1,000 to $1,300. Scheduled increases in the personalexemption amount and percentage standard deduction were accelerated. The 1971...
taxes. FICA is subject to neither the standard deduction nor any personalexemption and so is generally considered to be a regressive tax. Since 1990...
2012-01-17. "Personal Health Information Custodians in New Brunswick Exemption Order". Department of Justice. 2011-11-17. Retrieved 2012-11-24. "Personal Health...
84%. The standard deduction for a single taxpayer is $5,700; the personalexemption is $118. Nebraska has a state sales and use tax of 5.5%. In addition...
Personal rapid transit (PRT), also referred to as podcars or guided/railed taxis, is a public transport mode featuring small low-capacity automated vehicles...
taxes were temporarily increased (on alcohol, tires, etc.) and the personalexemption fell from $2,000 to $1,500 (for married couples). A Normal Tax was...
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