DE HB149

Implements annual adjustment of personal income tax brackets beginning January 1, 2025, based on Consumer Price Index increases to prevent "bracket creep"

Tax brackets established after December 31, 2024 shall be adjusted by the percentage increase in the Consumer Price Index for the 12-month period ending June 30, rounded to the nearest $50

Requires the Department of Finance to publish adjusted tax brackets and minimum filing thresholds by November 15 each year on the Division of Revenue website with public notification to businesses and tax professionals

Changes minimum filing threshold requirements for tax years beginning on or after January 1, 2025 from fixed amounts ($9,378 for single filers, $15,449 for married filers) to variable thresholds published annually under the adjustment formula

Effective for tax periods commencing after December 31, 2024