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22:30 Feb 12, 2018
English to Italian translations [PRO] Government / Politics / definizione
English term or phrase:single filers
Decoupling from federal tax code: The state tax code is closely aligned with the Federal tax code. This legislation decouples the state tax code from the federal tax code, where necessary, to avoid more than $1.5 billion in State tax increases brought solely by increases in Federal taxes. Federal tax reform capped the itemized deduction for State and local taxes (SALT) at $10,000. The Governor proposes to decouple from this cap so New York taxpayers are not subjected to a $441 million State tax increase from the flow through of this cap to State income tax returns. The legislation also decouples from other Federal deduction changes, saving State taxpayers $269 million annually beginning in FY 2020. The 30-day amendments will also maintain the State standard deduction for **single filers**. Without this change, single filers would not be able to take the standard deduction on their State return, and New York taxpayers would have been subjected to an $840 million annual State tax increase beginning in FY 2020.