Amended
IN
Senate
May 11, 2016 |
Amended
IN
Senate
April 25, 2016 |
Introduced by Senator Stone |
February 18, 2016 |
(2)The applicable dollar limit shall be determined as follows:
(A)In the case of a taxpayer whose adjusted gross income for the taxable year does not exceed one hundred twenty-five thousand dollars ($125,000) or two hundred fifty thousand dollars ($250,000) in the case of a joint return, ten thousand dollars ($10,000) per
individual.
(B)In the case of any other taxpayer, zero.
(C)For taxable years beginning on or after January 1, 2017, the amounts specified in subparagraph (A) shall be recomputed annually in the same manner as the recomputation of income tax brackets under subdivision (h) of Section 17041.
(3)