California SB1144 modifies personal income tax exemption credits for dependents and individuals.

California SB1144 amends the Revenue and Taxation Code to adjust personal income tax exemption credits for dependents and individuals. It introduces a credit of $700 for each dependent for taxable years starting after 2025 and before 2031. For taxable years starting after 2030, the credit increases to $227 per dependent. The bill also specifies that a credit is not allowed unless the individual's identification number is included on the return or the taxpayer provides prescribed identification information.

California SB1144 modifies personal income tax exemption credits for dependents and individuals.

California SB1144 amends the Revenue and Taxation Code to adjust personal income tax exemption credits for dependents and individuals. It introduces a credit of $700 for each dependent for taxable years starting after 2025 and before 2031. For taxable years starting after 2030, the credit increases to $227 per dependent. The bill also specifies that a credit is not allowed unless the individual's identification number is included on the return or the taxpayer provides prescribed identification information.