California tax rates and exemptions for 2017 tax returns

AMOUNTS for tax returns in 2017 are compared with amounts in 2016.

Exemption credits:

a. $114 from $111 – Single, Married filing separately, Head of Household.

b. $228 from $222 – Married filing jointly.

c. $353 from $344 – Dependent.

d. $114 from $111 – Age 65 or older.

You are considered to be 65 at the end of 2017 if you turn 65 in January 1, 2018

Exemption credits are phased out by $6 or $12 for each $1,250 or $2,500 that federal AGI exceeds certain amounts over $187,203 from $182.459.

Itemized deductions are also phased out if federal AGI exceeds certain amounts over $187,203 from $182.459.

Standard deductions:

a. $4,236 from $4,129 – Single and filing married filing separate.

b. $8,472 from $8,258 – Married filing joint, head of household, surviving spouse.

c. $1,050 from $1,050  – Minimum standard deduction for dependents.

Non-refundable enter’s credit:

a. $60 –  Single or married filing separate with California AGI of $40,078 or less from $39,062 or less.

b. $120 –  Married filing joint, head of household, or surviving spouse with California AGI of $80,156 from $78,125 or less.

Individual tax rates: 

a. 12.30% – Maximum rate for regular income tax.

b.  7.00% – Alternative Minimum Tax (AMT).

c. 1.00% – The Mental Health Services Tax Rate for taxable income in excess of $1,000,000.

Corporate tax rates:

a. 8.84% – Income tax rate for regular C corporations.

b. 1.50% – Income tax rate for S corporations.

c. 6.65% – AMT rate for regular C corporations.

AMT exemptions:

a. $45,895 from $44,732- Married filing separate, estates, and trusts.

b. $68,846 from $67,101 – Single and head of household.

c. $91,793 from $89,467 – Married filing joint, surviving spouse.

FTB (Franchise Tax Board) recovery fees:

a. $81 – Personal income tax filing enforcement fee.

b. $266 – Personal income tax collection fee.

c. $100 – Corporation filing enforcement fee.

d. $365 – Corporation collection fee.

Miscellaneous credits

a. 2% of California taxable income or maximum credit of $1,380 – Qualified senior head of household credit.

b. 30% of net tax or maximum credit of 451- Joint custody head of household credit/dependent parent credit.

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Disclaimer: Any accounting, business or tax advice contained in this communication is neither intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties.


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Al-os & Associates  Accountancy Corporation provides accounting and tax services to individuals, corporations, LLCs and business entities. The Firm has a niche in defending taxpayers audited by the IRS and other governmental agencies.


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