SB560:

Income tax, state; increases standard deduction.

Bill Summary:

Income tax; standard deduction. Increases
the standard deduction, starting with taxable year 2022, from $4,500
to $9,000 for single filers and from $9,000 to $18,000 for married
filers (one-half of such amount in the case of a married individual
filing a separate return). The increase would remain in effect for
taxable years 2026 and after, when, under current law, the standard
deduction is scheduled to be reduced to $3,000 for single filers and
to $6,000 for married filers.