California SB1096 introduces a senior tax credit for retired taxpayers caring for dependents.

California SB1096 adds a senior tax credit to the Revenue and Taxation Code, allowing a credit of $1,500 per qualified dependent for taxpayers aged 65 or older with no earned income. The credit is reduced for taxpayers with federal adjusted gross income over $75,000 or $150,000 for joint filers. The credit can be carried over to future years if it exceeds the net tax. The Franchise Tax Board must report on the credit's impact to the Legislative Analyst’s Office. The credit is effective from 2026 to 2031.

California SB1096 introduces a senior tax credit for retired taxpayers caring for dependents.

California SB1096 adds a senior tax credit to the Revenue and Taxation Code, allowing a credit of $1,500 per qualified dependent for taxpayers aged 65 or older with no earned income. The credit is reduced for taxpayers with federal adjusted gross income over $75,000 or $150,000 for joint filers. The credit can be carried over to future years if it exceeds the net tax. The Franchise Tax Board must report on the credit's impact to the Legislative Analyst’s Office. The credit is effective from 2026 to 2031.