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Various state tax model adjustments (#4950)
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Fixes #4932
Fixes #4929
Fixes #4940
Fixes #4917
Fixes #4616
Fixes #4940
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PavelMakarchuk committed Aug 26, 2024
1 parent 41e03a2 commit d03fdae
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Showing 7 changed files with 20 additions and 4 deletions.
8 changes: 8 additions & 0 deletions changelog_entry.yaml
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- bump: patch
changes:
fixes:
- Utah 2024 Tax Rate and EITC Description Change.
- Rhode Island 2023 retirement income subtraction cap increase.
- Mississippi 2023 income tax rate.
- Remove True print statement in Minnesota CDCC.
- Colorado family affordability credit age multiplier label.
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description: Colorado multiplies the maximum family affordability tax credit by this fraction, based on the child's age.
metadata:
label: Colorado family affordability tax credit age-based reductions
label: Colorado family affordability tax credit age-based multiplier
type: single_amount
threshold_unit: year
amount_unit: /1
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3 changes: 3 additions & 0 deletions policyengine_us/parameters/gov/states/ms/tax/income/rate.yaml
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Expand Up @@ -18,6 +18,7 @@ brackets:
2017-01-01: 0.04
2018-01-01: 0.03
2022-01-01: 0.04
2023-01-01: 0.05
2024-01-01: 0.047
2025-01-01: 0.044
2026-01-01: 0.04
Expand Down Expand Up @@ -50,3 +51,5 @@ metadata:
href: https://www.dor.ms.gov/sites/default/files/Forms/Individual/80100221.pdf#page=20
- title: Mississippi Income Tax Instructions 2023 - House Bill 531
href: https://www.dor.ms.gov/sites/default/files/Forms/Individual/80100231.pdf#page=3
- title: Mississippi Department of Revenue - Tax Rates, Exemptions, & Deductions
href: https://www.dor.ms.gov/individual/tax-rates
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description: Rhode Island subtracts up to this amount of taxable retirement income from adjusted gross income.
values:
2017-01-01: 15_000
2023-01-01: 20_000

metadata:
period: year
Expand All @@ -12,5 +13,7 @@ metadata:
href: https://tax.ri.gov/sites/g/files/xkgbur541/files/2022-01/2021-ri-schedule-m_w.pdf#page=1
- title: 2022 RI Schedule M - page 1 RI Modifications to Federal AGI line 1t
href: https://tax.ri.gov/sites/g/files/xkgbur541/files/2022-12/2022%20RI%20Schedule%20M_w.pdf#page=1
- title: Rhode Island 2023 RI-1040 Instructions
href: https://tax.ri.gov/sites/g/files/xkgbur541/files/2023-12/2023%201040R%20Instructions.pdf#page=9
- title: § 44-30-12. Rhode Island income of a resident individual. (c), (9)
href: http://webserver.rilin.state.ri.us/Statutes/title44/44-30/44-30-12.HTM
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description: Percentage of the federal EITC that is refundable in Utah.
description: Utah matches this percentage of the federal earned income tax credit.
values:
2022-01-01: 0.15
2023-01-01: 0.2
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Expand Up @@ -4,6 +4,7 @@ values:
2018-05-08: 0.0495
2022-01-01: 0.0485
2023-01-01: 0.0465
2024-01-01: 0.0455
metadata:
unit: /1
label: Utah income tax rate
Expand All @@ -14,6 +15,8 @@ metadata:
- title : Utah Code 59-10-104 (2) (b) #2018-05-08
href: https://le.utah.gov/xcode/historical.html?date=5/8/2018&oc=/xcode/Title59/Chapter10/C59-10-S104_2018050820180508.html
- title: Utah Code 59-10-104 (2) (b) #2022-05-04
href: https://le.utah.gov/xcode/Title59/Chapter10/59-10-S104.html?v=C59-10-S104_2022050420220504
href: https://le.utah.gov/xcode/historical.html?date=8/17/2022&oc=/xcode/Title59/Chapter10/C59-10-S104_2022050420220504.html
- title: 2023 Utah Code 59-10-104 (2) (b) # The rate was changed to 0.0465 in May 2023
href: https://le.utah.gov/xcode/Title59/Chapter10/59-10-S104.html?v=C59-10-S104_2022050420220504
- title: Utah Code 59-10-104 (2) (b) # Current tax code
href: https://le.utah.gov/xcode/Title59/Chapter10/59-10-S104.html?v=C59-10-S104_2022050420220504
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Expand Up @@ -46,5 +46,4 @@ def formula(tax_unit, period, parameters):
phaseout_amount = excess_agi * p.phaseout_rate
amount = max_(0, pre_phaseout_amount - phaseout_amount)
# credit amount only for eligibles
print(eligible)
return eligible * amount

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