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1 Jared Walczak, The Status of State Personal Exemptions a Year after Federal Tax Reform 1 (2019)

handle is hein.taxfoundation/ststpex0001 and id is 1 raw text is: The Status of State Personal Exemptions a Year After Federal Tax Reform FISCAL FACT Jared Walczak No. 636 Senior Policy Analyst Feb. 2019 Key Findings Under the Tax Cuts and Jobs Act, the personal exemption is suspended through 2025, balanced by other provisions, including the near-doubling of the standard deduction and an enhanced child tax credit. Some states mirror the federal government's personal exemption, but many others set their own dollar amounts while using federal eligibility definitions. Conformity to the Tax Cuts and Jobs Act introduced doubts about the status of some states' personal exemptions, with the federal approach-zeroing out the personal exemption rather than repealing it outright-interacting with state statutes in unexpected ways. Six states saw the repeal of their personal exemptions under TCJA conformity, while legislators in another five states acted to preserve exemptions that might otherwise have been wiped out. Minnesota would lose its personal exemption if the state updated its conformity statute without expressly providing for its retention, and ambiguous language remains on the books in several other states. The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) nonprofit organization. ©2019 Tax Foundation Distributed under Creative Commons CC BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org

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