Does Your State Adjust Its Income Tax Brackets For Inflation? 2015

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Does Your State Adjust Its Income Tax Brackets For Inflation? 2015

Inflation-Indexing of Personal Income Tax Brackets by State (as of July 1, 2015)

“One important, common-sense taxpayer protection built into the federal income tax code is inflation indexing. Inflation indexing means that tax brackets (and other important dollar-amount features of the individual income tax, like standard deductions or personal exemptions) are revised annually to reflect nominal price and wage increases that result from inflation.” – Scott Drenkard, TaxFoundation

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