SB293 Summary

• Expands the adjusted gross income threshold for Alabama individual income tax standard deductions effective for tax years beginning after December 31, 2017.

• Increases the income threshold from $20,000 to less than $23,000 for married taxpayers filing jointly and head of family taxpayers before the standard deduction begins to phase out.

• Increases the income threshold from $10,000 to less than $10,500 for married taxpayers filing separate returns before the standard deduction begins to phase out.

• Maintains the same $20,000 threshold for single taxpayers, with the standard deduction reducing by $25 for each $500 of adjusted gross income in excess of that amount.

• Preserves minimum standard deduction amounts: $4,000 for married joint filers, $2,000 for married separate filers and single taxpayers, and $2,000 for head of family taxpayers.