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DE HB321
Bill
Status
Introduced
3/5/2024
Primary Sponsor
Lyndon Yearick
Click for details
AI Summary
- Increases the personal exemption credit from $110 to $330 per exemption for qualifying lower-income individuals for tax years beginning after December 31, 2023
- Applies to single resident individuals with $18,000 to $36,000 in annual wage income and federal adjusted gross income not exceeding $36,000
- Applies to married couples filing jointly with $36,000 to $72,000 in combined annual wage income and federal adjusted gross income not exceeding $72,000
- Applies to married couples filing separate Delaware returns (while filing joint federal return) if each spouse has $18,000 to $36,000 in annual wage income
- Credit amount exceeding tax liability is refundable; provision expires for tax years beginning after December 31, 2025
Legislative Description
An Act To Amend Title 30 Of The Delaware Code Relating To Increasing The Personal Exemption Credit.
Last Action
Not Worked in Committee
3/12/2024
Committee Referrals
Revenue & Finance3/5/2024
Full Bill Text
No bill text available