§ 36 §5124-C — Standard deduction; resident on or after January 1, 2018

1.
Amount; before January 1, 2020.
For tax years beginning on or after January 1, 2018 and before January 1, 2020, the standard deduction of a resident individual is equal to the standard deduction as determined in accordance with the Code, Section 63, subject to the phase-out under subsection 2.
1-A.
Amount; before January 1, 2026.
For tax years beginning on or after January 1, 2020 and before January 1, 2026, the standard deduction of a resident individual is equal to the federal standard deduction, subject to the phase-out under subsection 2.
1-B.
Amount; on or after January 1, 2026.
For tax years beginning on or after January 1, 2026, the standard deduction of a resident individual is equal to the sum of the basic standard deduction and the additional standard deduction, subject to the phase-out under subsection 2.
2.
Phase-out.
The standard deduction of the taxpayer must be reduced by an amount equal to the total standard deduction multiplied by the following fraction:

Legislative History

PL 2017, c. 474, Pt. B, §2 (NEW). PL 2019, c. 616, Pt. X, §§2, 3 (AMD). PL 2023, c. 412, Pt. ZZZ, §§4, 5 (AMD).