California ~ Personal Income Tax: 2011 Standard Deduction, Personal Exemptions, and Other Amounts Released

The California Franchise Tax Board has released the 2011 California personal income tax standard deduction amounts, personal exemption amounts, and adjusted gross income thresholds for the renter’s credit. These figures are based on an inflation rate of 2.7%, as measured by the California CPI for all urban consumers from June 2010 to June 2011.

Standard Deduction

For 2011, the standard deduction increases from $3,670 to $3,769 for single taxpayers and married taxpayers filing separate returns, and from $7,340 to $7,538 for married taxpayers filing jointly, surviving spouses, and heads of households.

Personal Exemptions

Personal exemption amounts for 2011 increase to $102 (formerly, $99) for single taxpayers, married taxpayers filing separately, and heads of households, and to $204 (formerly, $198) for married taxpayers filing jointly and surviving spouses. The personal exemption amount for dependents increases from $99 to $315 for the 2011 tax year.

Renter’s Credit

For 2011 the renter’s credit against personal income tax is available for single filers with adjusted gross incomes of $35, 659 or less (previously, $34,722) and for joint filers with adjusted gross incomes of $71,318 or less (previously, $69,443).

More information about the 2011 tax rates and exemptions and other tax amounts will be posted on the FTB website at http://ftb.ca.gov/ in September.

News Release, California Franchise Tax Board, August 25, 2011

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