California SB1096 provides a senior tax credit for retirees caring for dependents.
California SB1096 introduces a tax credit for qualified taxpayers aged 65 and older with no earned income. The credit amounts to $1,500 per qualifying dependent for tax years beginning after 2025 and before 2031. The credit is reduced based on the taxpayer's federal adjusted gross income. The Franchise Tax Board must report to the Legislative Analyst’s Office on the average credit amount and number of claimants by July 1, 2032. The credit expires on December 1, 2032.
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