§294. Standard deduction

            A. A standard deduction shall be allowed in determining a taxpayer's tax liability pursuant to this Part. Taxpayers are required to use the same filing status on their return required to be filed under this Part as they used on their federal income tax return. For tax year 2025, the amount of the standard deduction shall be as follows:

            (1) Single Individual and Married-Separate              $12,500.00

            (2) Married-Joint Return, a Qualified Surviving       200% of the dollar amount

                   Spouse, and Head of Household                         provided for Single Individuals

            B. Beginning January 1, 2026, and thereafter, the amount of the standard deduction provided in Subsection A of this Section shall be adjusted annually by an amount calculated by multiplying the amount of the prior year's standard deduction by the percentage increase in the Consumer Price Index United States city average for all urban consumers (CPI-U), as reported by the United States Department of Labor, Bureau of Labor Statistics, or its successor, for the previous calendar year.

            Acts 1980, No. 316, §1. Acts 1983, 2nd Ex. Sess., No. 1, §1, eff. Dec. 19, 1983; Acts 2024, 3rd Ex. Sess., No. 11, §2, eff. Dec. 4, 2024.

{{NOTE: SECTION 4 OF ACTS 1983, 2ND EX. SESS., NO. 1, PROVIDES AS FOLLOWS: "THE PROVISIONS OF THIS ACT SHALL BE APPLICABLE TO TAXABLE YEARS BEGINNING AFTER DECEMBER 31, 1982. FOR TAXABLE YEARS BEGINNING PRIOR TO JANUARY 1, 1983, THE TAX SHALL BE AS REQUIRED BY LAW PRIOR TO THE EFFECTIVE DATE OF THIS ACT."}}