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1 change: 1 addition & 0 deletions changelog.d/vt-2017-taxable-income.fixed.md
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Start Vermont's 2017 taxable income from federal taxable income, with the former 32 V.S.A. § 5811(21) itemized deduction addback, additions and subtractions, and add the 2017 federal standard deduction amounts.
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@@ -1,5 +1,8 @@
description: Additional standard deduction for blind and aged
SINGLE:
2015-01-01: 1_550
2016-01-01: 1_550
2017-01-01: 1_550
2018-01-01: 1_600
2019-01-01: 1_650
2021-01-01: 1_700
Expand All @@ -9,6 +12,9 @@ SINGLE:
2025-01-01: 2_000
2026-01-01: 2_050
JOINT:
2015-01-01: 1_250
2016-01-01: 1_250
2017-01-01: 1_250
2018-01-01: 1_300
2019-01-01: 1_300
2021-01-01: 1_350
Expand All @@ -18,6 +24,9 @@ JOINT:
2025-01-01: 1_600
2026-01-01: 1_650
SEPARATE:
2015-01-01: 1_250
2016-01-01: 1_250
2017-01-01: 1_250
2018-01-01: 1_300
2019-01-01: 1_300
2021-01-01: 1_350
Expand All @@ -27,6 +36,9 @@ SEPARATE:
2025-01-01: 1_600
2026-01-01: 1_650
HEAD_OF_HOUSEHOLD:
2015-01-01: 1_550
2016-01-01: 1_550
2017-01-01: 1_550
2018-01-01: 1_600
2019-01-01: 1_650
2021-01-01: 1_700
Expand All @@ -36,6 +48,9 @@ HEAD_OF_HOUSEHOLD:
2025-01-01: 2_000
2026-01-01: 2_050
SURVIVING_SPOUSE:
2015-01-01: 1_250
2016-01-01: 1_250
2017-01-01: 1_250
2018-01-01: 1_300
2019-01-01: 1_300
2021-01-01: 1_350
Expand All @@ -52,6 +67,12 @@ metadata:
period: year
propagate_metadata_to_children: true
reference:
- title: 2017 IRS data release (Rev. Proc. 2016-55)
href: https://www.irs.gov/pub/irs-drop/rp-16-55.pdf#page=15
- title: 2016 IRS data release (Rev. Proc. 2015-53)
href: https://www.irs.gov/pub/irs-drop/rp-15-53.pdf#page=14
- title: 2015 IRS data release (Rev. Proc. 2014-61)
href: https://www.irs.gov/pub/irs-drop/rp-14-61.pdf#page=13
- title: 2026 IRS data release
href: https://www.irs.gov/pub/irs-drop/rp-25-32.pdf#page=18
- title: 2025 IRS data release
Expand Down
21 changes: 21 additions & 0 deletions policyengine_us/parameters/gov/irs/deductions/standard/amount.yaml
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@@ -1,6 +1,9 @@
description: Federal deduction from AGI if not itemizing.

SINGLE:
2015-01-01: 6_300
2016-01-01: 6_300
2017-01-01: 6_350
2018-01-01: 12_000
2019-01-01: 12_200
2020-01-01: 12_400
Expand All @@ -11,6 +14,9 @@ SINGLE:
2025-01-01: 15_750
2026-01-01: 16_100
JOINT:
2015-01-01: 12_600
2016-01-01: 12_600
2017-01-01: 12_700
2018-01-01: 24_000
2019-01-01: 24_400
2020-01-01: 24_800
Expand All @@ -21,6 +27,9 @@ JOINT:
2025-01-01: 31_500
2026-01-01: 32_200
SEPARATE:
2015-01-01: 6_300
2016-01-01: 6_300
2017-01-01: 6_350
2018-01-01: 12_000
2019-01-01: 12_200
2020-01-01: 12_400
Expand All @@ -31,6 +40,9 @@ SEPARATE:
2025-01-01: 15_750
2026-01-01: 16_100
HEAD_OF_HOUSEHOLD:
2015-01-01: 9_250
2016-01-01: 9_300
2017-01-01: 9_350
2018-01-01: 18_000
2019-01-01: 18_350
2020-01-01: 18_650
Expand All @@ -41,6 +53,9 @@ HEAD_OF_HOUSEHOLD:
2025-01-01: 23_625
2026-01-01: 24_150
SURVIVING_SPOUSE:
2015-01-01: 12_600
2016-01-01: 12_600
2017-01-01: 12_700
2018-01-01: 24_000
2019-01-01: 24_400
2020-01-01: 24_800
Expand Down Expand Up @@ -76,6 +91,12 @@ metadata:
href: https://www.irs.gov/pub/irs-drop/rp-19-44.pdf
- title: 2019 IRS data release
href: https://www.irs.gov/pub/irs-drop/rp-18-57.pdf
- title: 2017 IRS data release (Rev. Proc. 2016-55)
href: https://www.irs.gov/pub/irs-drop/rp-16-55.pdf#page=15
- title: 2016 IRS data release (Rev. Proc. 2015-53)
href: https://www.irs.gov/pub/irs-drop/rp-15-53.pdf#page=13
- title: 2015 IRS data release (Rev. Proc. 2014-61)
href: https://www.irs.gov/pub/irs-drop/rp-14-61.pdf#page=13
- title: CBO Tax Parameters and Effective Marginal Tax Rates | Feb 2024
# 1. Tax Parameters.
href: https://www.cbo.gov/system/files/2024-02/53724-2024-02-Tax-Parameters.xlsx
Expand Down
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@@ -0,0 +1,10 @@
description: Vermont adds back itemized deductions, other than income taxes, medical expenses and charitable contributions, in excess of this multiple of the federal standard deduction, under former 32 V.S.A. § 5811(21)(A)(iv).
values:
2017-01-01: 2.5
metadata:
unit: /1
period: year
label: Vermont 2017 other itemized deduction addback standard deduction multiple
reference:
- title: 2017 Vt. Acts No. 73, § 13a (former 32 V.S.A. § 5811(21)(A)(iii)-(iv)) #page 21-22
href: https://legislature.vermont.gov/Documents/2018/Docs/ACTS/ACT073/ACT073%20As%20Enacted.pdf#page=21
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@@ -0,0 +1,73 @@
- name: 2017 aged single filer adds $1,550
period: 2017
input:
filing_status: SINGLE
aged_blind_count: 1
output:
additional_standard_deduction: 1_550

- name: 2017 aged and blind head of household adds 2 x $1,550
period: 2017
input:
filing_status: HEAD_OF_HOUSEHOLD
aged_blind_count: 2
output:
additional_standard_deduction: 3_100

- name: 2017 joint filers with one aged spouse add $1,250
period: 2017
input:
filing_status: JOINT
aged_blind_count: 1
output:
additional_standard_deduction: 1_250

- name: 2017 separate filer aged adds $1,250
period: 2017
input:
filing_status: SEPARATE
aged_blind_count: 1
output:
additional_standard_deduction: 1_250

- name: 2017 aged surviving spouse adds $1,250
period: 2017
input:
filing_status: SURVIVING_SPOUSE
aged_blind_count: 1
output:
additional_standard_deduction: 1_250

- name: 2015 single filer aged 65 adds $1,550
period: 2015
input:
people:
head:
age: 65
tax_units:
tax_unit:
members: [head]
filing_status: SINGLE
output:
additional_standard_deduction: 1_550

- name: 2016 single filer aged 65 adds $1,550
period: 2016
input:
people:
head:
age: 65
tax_units:
tax_unit:
members: [head]
filing_status: SINGLE
output:
additional_standard_deduction: 1_550

- name: 2018 aged single filer adds $1,600, unchanged
period: 2018
input:
filing_status: SINGLE
aged_blind_count: 1
output:
additional_standard_deduction: 1_600
Original file line number Diff line number Diff line change
Expand Up @@ -574,3 +574,73 @@
irs_gross_income: 15_000
basic_standard_deduction: 15_450
tax_unit_is_required_to_file: false

- name: 2017 single filer standard deduction is $6,350
period: 2017
input:
filing_status: SINGLE
output:
basic_standard_deduction: 6_350

- name: 2017 separate filer standard deduction is $6,350
period: 2017
input:
filing_status: SEPARATE
output:
basic_standard_deduction: 6_350

- name: 2017 head of household standard deduction is $9,350
period: 2017
input:
filing_status: HEAD_OF_HOUSEHOLD
output:
basic_standard_deduction: 9_350

- name: 2017 joint filer standard deduction is $12,700
period: 2017
input:
filing_status: JOINT
output:
basic_standard_deduction: 12_700

- name: 2017 surviving spouse standard deduction is $12,700
period: 2017
input:
filing_status: SURVIVING_SPOUSE
output:
basic_standard_deduction: 12_700

- name: 2015 head of household standard deduction is $9,250
period: 2015
input:
filing_status: HEAD_OF_HOUSEHOLD
output:
basic_standard_deduction: 9_250

- name: 2015 joint filers get a $12,600 standard deduction
period: 2015
input:
filing_status: JOINT
output:
basic_standard_deduction: 12_600

- name: 2015 single filers get a $6,300 standard deduction
period: 2015
input:
filing_status: SINGLE
output:
basic_standard_deduction: 6_300

- name: 2016 head of household standard deduction is $9,300
period: 2016
input:
filing_status: HEAD_OF_HOUSEHOLD
output:
basic_standard_deduction: 9_300

- name: 2016 joint filer standard deduction is $12,600
period: 2016
input:
filing_status: JOINT
output:
basic_standard_deduction: 12_600
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