diff --git a/changelog.d/state-2026-amounts.fixed.md b/changelog.d/state-2026-amounts.fixed.md new file mode 100644 index 00000000000..bb6ab1b991a --- /dev/null +++ b/changelog.d/state-2026-amounts.fixed.md @@ -0,0 +1 @@ +Use the published 2026 Kentucky, Michigan, Minnesota, Missouri, Nebraska, Oregon and Wisconsin standard deductions, exemptions, bracket thresholds and Oregon federal tax subtraction caps instead of inflation projections, use Minnesota's other published 2026 inflation-adjusted amounts, and stop indexing Minnesota's alternate Social Security subtraction, which Minnesota law does not index. diff --git a/policyengine_us/parameters/gov/states/ky/tax/income/deductions/standard.yaml b/policyengine_us/parameters/gov/states/ky/tax/income/deductions/standard.yaml index 558296c7df5..e0c99bea781 100644 --- a/policyengine_us/parameters/gov/states/ky/tax/income/deductions/standard.yaml +++ b/policyengine_us/parameters/gov/states/ky/tax/income/deductions/standard.yaml @@ -5,6 +5,7 @@ values: 2023-01-01: 2_980 2024-01-01: 3_160 2025-01-01: 3_270 + 2026-01-01: 3_360 metadata: uprating: gov.irs.uprating # legal code does not include any rounding language label: Kentucky standard deduction amount @@ -26,3 +27,5 @@ metadata: href: https://revenue.ky.gov/News/Pages/Kentucky-DOR-Announces-2025-Standard-Deduction.aspx - title: 2025 Kentucky Form 740 href: https://revenue.ky.gov/Forms/740%20(2025).pdf#page=1 + - title: Kentucky DOR Announces 2026 Standard Deduction (September 4, 2025) + href: https://revenue.ky.gov/News/Pages/Kentucky-DOR-Announces-2026-Standard-Deduction.aspx diff --git a/policyengine_us/parameters/gov/states/mi/tax/income/exemptions/personal.yaml b/policyengine_us/parameters/gov/states/mi/tax/income/exemptions/personal.yaml index 6ddf6c5a24e..a2d41760f52 100644 --- a/policyengine_us/parameters/gov/states/mi/tax/income/exemptions/personal.yaml +++ b/policyengine_us/parameters/gov/states/mi/tax/income/exemptions/personal.yaml @@ -9,6 +9,7 @@ values: 2023-01-01: 5_400 2024-01-01: 5_600 2025-01-01: 5_800 + 2026-01-01: 5_900 metadata: period: year @@ -16,8 +17,9 @@ metadata: uprating: parameter: gov.irs.uprating rounding: + # MCL 206.30(2): "rounded to the nearest $100.00 increment". type: nearest - interval: 50 + interval: 100 label: Michigan exemption base amount reference: # Legal code specified $3,700. @@ -36,4 +38,8 @@ metadata: href: https://www.michigan.gov/taxes/-/media/Project/Websites/taxes/Forms/IIT/TY2024/MI-1040-Instructions.pdf#page=13 - title: Michigan 2025 Income Tax Withholding Guide (Form 446) href: https://www.michigan.gov/taxes/-/media/Project/Websites/taxes/Forms/SUW/TY2025/446_Withholding-Guide_2025.pdf#page=2 + - title: Michigan 2026 Income Tax Withholding Guide (Form 446), Personal Exemption Amount + href: https://www.michigan.gov/taxes/-/media/Project/Websites/taxes/Forms/SUW/TY2026/446_Withholding-Guide_2026.pdf#page=1 + - title: Michigan Treasury, Withholding Tax Information by Calendar Year (2026 personal exemption) + href: https://www.michigan.gov/taxes/business-taxes/withholding/calendar-year-tax-information diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/amt/fractional_income_threshold.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/amt/fractional_income_threshold.yaml index 0252cd034ea..4c13ec1de72 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/amt/fractional_income_threshold.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/amt/fractional_income_threshold.yaml @@ -26,6 +26,8 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2025-07/m1mt-24.pdf#page=1 - title: 2025 Minnesota Schedule M1MT form, Line 21 href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1mt-25.pdf#page=1 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.091 Subd. 3 AMT Exemption + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=3 JOINT: 2021-01-01: 79_660 @@ -33,27 +35,32 @@ JOINT: 2023-01-01: 87_960 2024-01-01: 92_710 2025-01-01: 95_390 + 2026-01-01: 97_470 HEAD_OF_HOUSEHOLD: 2021-01-01: 59_750 2022-01-01: 61_610 2023-01-01: 65_970 2024-01-01: 69_530 2025-01-01: 71_540 + 2026-01-01: 73_100 SURVIVING_SPOUSE: 2021-01-01: 79_660 2022-01-01: 82_150 2023-01-01: 87_960 2024-01-01: 92_710 2025-01-01: 95_390 + 2026-01-01: 97_470 SINGLE: 2021-01-01: 59_750 2022-01-01: 61_610 2023-01-01: 65_970 2024-01-01: 69_530 2025-01-01: 71_540 + 2026-01-01: 73_100 SEPARATE: 2021-01-01: 39_840 2022-01-01: 41_080 2023-01-01: 43_990 2024-01-01: 46_360 2025-01-01: 47_700 + 2026-01-01: 48_740 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/credits/cdcc/phaseout_threshold.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/credits/cdcc/phaseout_threshold.yaml index e06c1578515..af5101fbf73 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/credits/cdcc/phaseout_threshold.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/credits/cdcc/phaseout_threshold.yaml @@ -5,6 +5,7 @@ values: 2023-01-01: 59_210 2024-01-01: 62_410 2025-01-01: 64_150 + 2026-01-01: 65_610 metadata: period: year @@ -30,3 +31,5 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2024-12/m1cd-24.pdf#page=6 - title: 2025 Schedule M1CD, Child and Dependent Care Credit, Worksheet for Line 8 href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1cd-25.pdf#page=6 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.067 Subd. 1 Dependent Care Credit Phase-out Threshold + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=3 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/credits/cwfc/phase_out/threshold/other.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/credits/cwfc/phase_out/threshold/other.yaml index 056e687883a..a9b80d91a65 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/credits/cwfc/phase_out/threshold/other.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/credits/cwfc/phase_out/threshold/other.yaml @@ -19,8 +19,11 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=14 - title: 2025 Schedule M1CWFC, Minnesota Child and Working Family Credits href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1cwfc-25.pdf + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0661 Subd. 4 Child and WFC Phase-out Threshold + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=3 values: 2023-01-01: 29_500 2024-01-01: 31_090 2025-01-01: 31_950 + 2026-01-01: 32_680 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/credits/cwfc/wfc/additional/amount.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/credits/cwfc/wfc/additional/amount.yaml index 41eb11a33bb..7b076f8c44c 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/credits/cwfc/wfc/additional/amount.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/credits/cwfc/wfc/additional/amount.yaml @@ -14,6 +14,8 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1cwfc-25.pdf#page=1 - title: 290.0671 MINNESOTA WORKING FAMILY CREDIT. Subd. 1 (3) href: https://www.revisor.mn.gov/statutes/cite/290.0671 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0671 Subd. 1 Working Family Credit Additional Credit + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=3 brackets: - threshold: @@ -41,6 +43,7 @@ brackets: 2023-01-01: 2_100 2024-01-01: 2_210 2025-01-01: 2_270 + 2026-01-01: 2_330 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_limit/base.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_limit/base.yaml index 3ce633be0fb..cc76aafb454 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_limit/base.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_limit/base.yaml @@ -5,6 +5,9 @@ values: 2023-01-01: 41_400 2024-01-01: 79_760 2025-01-01: 81_820 + # 2026 phase-out threshold of $77,550 plus the $6,000 over which subd. 2(a) + # reduces $1,500 by $1 per $4 (one child) or $3,000 by $2 per $4 (two children). + 2026-01-01: 83_550 metadata: period: year @@ -15,3 +18,5 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1ed-25.pdf - title: Minnesota Statutes 290.0674, Subd. 2(a) href: https://www.revisor.mn.gov/statutes/cite/290.0674#stat.290.0674.2 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0674 Subd. 2 K-12 Credit Phase-out Threshold + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=3 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_threshold.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_threshold.yaml index b218c62c6db..99372edc7a1 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_threshold.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_threshold.yaml @@ -5,6 +5,7 @@ values: 2023-01-01: 36_980 2024-01-01: 73_890 2025-01-01: 75_820 + 2026-01-01: 77_550 metadata: period: year @@ -15,3 +16,5 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1ed-25.pdf - title: Minnesota Statutes 290.0674 Minnesota Education Credit href: https://www.revisor.mn.gov/statutes/cite/290.0674 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0674 Subd. 2 K-12 Credit Phase-out Threshold + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=3 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/claimant_share.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/claimant_share.yaml index 48bf7ca25fc..413d5c1a809 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/claimant_share.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/claimant_share.yaml @@ -10,6 +10,8 @@ metadata: href: https://www.revisor.mn.gov/statutes/cite/290.0693/pdf#page=2 - title: 2025 Schedule M1RENT, Renter's Credit href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1rent-25.pdf#page=5 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0693 Subd. 3 Renter's Credit, Percent Paid by Claimant column + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=5 brackets: - threshold: @@ -41,6 +43,7 @@ brackets: - threshold: values: 2024-01-01: 21_540 + 2026-01-01: 22_670 metadata: uprating: parameter: gov.irs.uprating @@ -52,6 +55,7 @@ brackets: - threshold: values: 2024-01-01: 30_160 + 2026-01-01: 31_740 metadata: uprating: parameter: gov.irs.uprating @@ -107,6 +111,7 @@ brackets: - threshold: values: 2024-01-01: 66_790 + 2026-01-01: 70_280 metadata: uprating: parameter: gov.irs.uprating @@ -118,6 +123,7 @@ brackets: - threshold: values: 2024-01-01: 75_390 + 2026-01-01: 79_330 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/max_credit.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/max_credit.yaml index 6a447a205bb..22b0a753166 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/max_credit.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/max_credit.yaml @@ -10,6 +10,8 @@ metadata: href: https://www.revisor.mn.gov/statutes/cite/290.0693/pdf#page=2 - title: 2025 Schedule M1RENT, Renter's Credit href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1rent-25.pdf#page=5 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0693 Subd. 3 Renter's Credit, Maximum Credit column + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=5 brackets: - threshold: @@ -98,6 +100,7 @@ brackets: - threshold: values: 2024-01-01: 21_540 + 2026-01-01: 22_670 metadata: uprating: parameter: gov.irs.uprating @@ -116,6 +119,7 @@ brackets: - threshold: values: 2024-01-01: 23_680 + 2026-01-01: 24_920 metadata: uprating: parameter: gov.irs.uprating @@ -188,6 +192,7 @@ brackets: - threshold: values: 2024-01-01: 64_620 + 2026-01-01: 68_000 metadata: uprating: parameter: gov.irs.uprating @@ -206,6 +211,7 @@ brackets: - threshold: values: 2024-01-01: 66_790 + 2026-01-01: 70_280 metadata: uprating: parameter: gov.irs.uprating @@ -224,6 +230,7 @@ brackets: - threshold: values: 2024-01-01: 68_930 + 2026-01-01: 72_530 metadata: uprating: parameter: gov.irs.uprating @@ -242,6 +249,7 @@ brackets: - threshold: values: 2024-01-01: 71_090 + 2026-01-01: 74_810 metadata: uprating: parameter: gov.irs.uprating @@ -260,6 +268,7 @@ brackets: - threshold: values: 2024-01-01: 73_240 + 2026-01-01: 77_070 metadata: uprating: parameter: gov.irs.uprating @@ -278,6 +287,7 @@ brackets: - threshold: values: 2024-01-01: 75_390 + 2026-01-01: 79_330 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/percent_of_income.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/percent_of_income.yaml index 03293cc6fbf..0ef80fc1b15 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/percent_of_income.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/credits/renters/percent_of_income.yaml @@ -10,6 +10,8 @@ metadata: href: https://www.revisor.mn.gov/statutes/cite/290.0693/pdf#page=2 - title: 2025 Schedule M1RENT, Renter's Credit href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1rent-25.pdf#page=5 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0693 Subd. 3 Renter's Credit, Percent of Income column + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=5 brackets: - threshold: @@ -63,6 +65,7 @@ brackets: - threshold: values: 2024-01-01: 23_680 + 2026-01-01: 24_920 metadata: uprating: parameter: gov.irs.uprating @@ -85,6 +88,7 @@ brackets: - threshold: values: 2024-01-01: 30_160 + 2026-01-01: 31_740 metadata: uprating: parameter: gov.irs.uprating @@ -96,6 +100,7 @@ brackets: - threshold: values: 2024-01-01: 32_310 + 2026-01-01: 34_000 metadata: uprating: parameter: gov.irs.uprating @@ -118,6 +123,7 @@ brackets: - threshold: values: 2024-01-01: 38_770 + 2026-01-01: 40_800 metadata: uprating: parameter: gov.irs.uprating @@ -129,6 +135,7 @@ brackets: - threshold: values: 2024-01-01: 75_390 + 2026-01-01: 79_330 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/itemized/reduction/agi_threshold/high.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/itemized/reduction/agi_threshold/high.yaml index adcbc805205..779ee716343 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/itemized/reduction/agi_threshold/high.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/itemized/reduction/agi_threshold/high.yaml @@ -22,24 +22,31 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=4 - title: 2025 Schedule M1SA, Minnesota Itemized Deductions href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1sa-25_0.pdf + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0122 Subd. 2 Itemized Deduction Limitation + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=1 JOINT: 2023-01-01: 304_970 2024-01-01: 321_350 2025-01-01: 330_300 + 2026-01-01: 337_800 HEAD_OF_HOUSEHOLD: 2023-01-01: 304_970 2024-01-01: 321_350 2025-01-01: 330_300 + 2026-01-01: 337_800 SURVIVING_SPOUSE: 2023-01-01: 304_970 2024-01-01: 321_350 2025-01-01: 330_300 + 2026-01-01: 337_800 SINGLE: 2023-01-01: 304_970 2024-01-01: 321_350 2025-01-01: 330_300 + 2026-01-01: 337_800 SEPARATE: 2023-01-01: 152_485 2024-01-01: 160_675 2025-01-01: 165_150 + 2026-01-01: 168_900 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/itemized/reduction/agi_threshold/low.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/itemized/reduction/agi_threshold/low.yaml index acc1bf97932..17fddbec343 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/itemized/reduction/agi_threshold/low.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/itemized/reduction/agi_threshold/low.yaml @@ -28,6 +28,8 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=4 - title: 2025 Schedule M1SA, Minnesota Itemized Deductions href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1sa-25_0.pdf + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0122 Subd. 2 Itemized Deduction Limitation + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=1 JOINT: 2021-01-01: 199_850 @@ -35,27 +37,32 @@ JOINT: 2023-01-01: 220_650 2024-01-01: 232_500 2025-01-01: 238_950 + 2026-01-01: 244_400 HEAD_OF_HOUSEHOLD: 2021-01-01: 199_850 2022-01-01: 206_050 2023-01-01: 220_650 2024-01-01: 232_500 2025-01-01: 238_950 + 2026-01-01: 244_400 SURVIVING_SPOUSE: 2021-01-01: 199_850 2022-01-01: 206_050 2023-01-01: 220_650 2024-01-01: 232_500 2025-01-01: 238_950 + 2026-01-01: 244_400 SINGLE: 2021-01-01: 199_850 2022-01-01: 206_050 2023-01-01: 220_650 2024-01-01: 232_500 2025-01-01: 238_950 + 2026-01-01: 244_400 SEPARATE: 2021-01-01: 99_925 2022-01-01: 103_025 2023-01-01: 110_325 2024-01-01: 116_250 2025-01-01: 119_475 + 2026-01-01: 122_200 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml index 092f95b8206..ad8b836f038 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml @@ -26,6 +26,8 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=4 - title: 2025 Minnesota M1 form instructions href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=4 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0123 Subd. 1 Standard Deduction + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=1 JOINT: values: @@ -34,6 +36,7 @@ JOINT: 2023-01-01: 27_650 2024-01-01: 29_150 2025-01-01: 29_900 + 2026-01-01: 30_600 HEAD_OF_HOUSEHOLD: values: 2021-01-01: 18_800 @@ -41,6 +44,7 @@ HEAD_OF_HOUSEHOLD: 2023-01-01: 20_800 2024-01-01: 21_900 2025-01-01: 22_500 + 2026-01-01: 23_000 SURVIVING_SPOUSE: values: 2021-01-01: 25_050 @@ -48,6 +52,7 @@ SURVIVING_SPOUSE: 2023-01-01: 27_650 2024-01-01: 29_150 2025-01-01: 29_900 + 2026-01-01: 30_600 SINGLE: values: 2021-01-01: 12_525 @@ -55,6 +60,7 @@ SINGLE: 2023-01-01: 13_825 2024-01-01: 14_575 2025-01-01: 14_950 + 2026-01-01: 15_300 SEPARATE: values: 2021-01-01: 12_525 @@ -62,3 +68,4 @@ SEPARATE: 2023-01-01: 13_825 2024-01-01: 14_575 2025-01-01: 14_950 + 2026-01-01: 15_300 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/extra.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/extra.yaml index 82822c6c968..f493c32f428 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/extra.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/extra.yaml @@ -26,6 +26,8 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=12 - title: 2025 Minnesota M1 form instructions href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=13 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, Additional Standard Deduction for Aged or Blind + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=1 JOINT: values: @@ -34,6 +36,7 @@ JOINT: 2023-01-01: 1_450 2024-01-01: 1_550 2025-01-01: 1_550 + 2026-01-01: 1_600 HEAD_OF_HOUSEHOLD: values: 2021-01-01: 1_650 @@ -41,6 +44,7 @@ HEAD_OF_HOUSEHOLD: 2023-01-01: 1_850 2024-01-01: 1_950 2025-01-01: 2_000 + 2026-01-01: 2_000 SURVIVING_SPOUSE: values: 2021-01-01: 1_300 @@ -48,6 +52,7 @@ SURVIVING_SPOUSE: 2023-01-01: 1_450 2024-01-01: 1_550 2025-01-01: 1_550 + 2026-01-01: 1_600 SINGLE: values: 2021-01-01: 1_650 @@ -55,6 +60,7 @@ SINGLE: 2023-01-01: 1_850 2024-01-01: 1_950 2025-01-01: 2_000 + 2026-01-01: 2_000 SEPARATE: values: 2021-01-01: 1_300 @@ -62,3 +68,4 @@ SEPARATE: 2023-01-01: 1_450 2024-01-01: 1_550 2025-01-01: 1_550 + 2026-01-01: 1_600 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/reduction/agi_threshold/high.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/reduction/agi_threshold/high.yaml index 3fed363950a..eb9cb5aa74b 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/reduction/agi_threshold/high.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/reduction/agi_threshold/high.yaml @@ -20,29 +20,36 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2024-12/m1sa-24.pdf#page=8 - title: 2025 Minnesota Schedule M1SA, Worksheet for Line 26 href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1sa-25_0.pdf#page=8 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0123 Subd. 5 Standard Deduction Limitation + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 JOINT: values: 2023-01-01: 304_970 2024-01-01: 321_350 2025-01-01: 330_300 + 2026-01-01: 337_800 HEAD_OF_HOUSEHOLD: values: 2023-01-01: 304_970 2024-01-01: 321_350 2025-01-01: 330_300 + 2026-01-01: 337_800 SURVIVING_SPOUSE: values: 2023-01-01: 304_970 2024-01-01: 321_350 2025-01-01: 330_300 + 2026-01-01: 337_800 SINGLE: values: 2023-01-01: 304_970 2024-01-01: 321_350 2025-01-01: 330_300 + 2026-01-01: 337_800 SEPARATE: values: 2023-01-01: 152_485 2024-01-01: 160_675 2025-01-01: 165_150 + 2026-01-01: 168_900 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/reduction/agi_threshold/low.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/reduction/agi_threshold/low.yaml index 84a521ddb5c..91dce15687c 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/reduction/agi_threshold/low.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/reduction/agi_threshold/low.yaml @@ -26,6 +26,8 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2024-12/m1sa-24.pdf#page=8 - title: 2025 Minnesota Schedule M1SA, Worksheet for Line 26 href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1sa-25_0.pdf#page=8 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0123 Subd. 5 Standard Deduction Limitation + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 JOINT: values: @@ -34,6 +36,7 @@ JOINT: 2023-01-01: 220_650 2024-01-01: 232_500 2025-01-01: 238_950 + 2026-01-01: 244_400 HEAD_OF_HOUSEHOLD: values: 2021-01-01: 199_850 @@ -41,6 +44,7 @@ HEAD_OF_HOUSEHOLD: 2023-01-01: 220_650 2024-01-01: 232_500 2025-01-01: 238_950 + 2026-01-01: 244_400 SURVIVING_SPOUSE: values: 2021-01-01: 199_850 @@ -48,6 +52,7 @@ SURVIVING_SPOUSE: 2023-01-01: 220_650 2024-01-01: 232_500 2025-01-01: 238_950 + 2026-01-01: 244_400 SINGLE: values: 2021-01-01: 199_850 @@ -55,6 +60,7 @@ SINGLE: 2023-01-01: 220_650 2024-01-01: 232_500 2025-01-01: 238_950 + 2026-01-01: 244_400 SEPARATE: values: 2021-01-01: 99_925 @@ -62,3 +68,4 @@ SEPARATE: 2023-01-01: 110_325 2024-01-01: 116_250 2025-01-01: 119_475 + 2026-01-01: 122_200 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/exemptions/agi_threshold.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/exemptions/agi_threshold.yaml index d776d341687..d8118ab1443 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/exemptions/agi_threshold.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/exemptions/agi_threshold.yaml @@ -26,6 +26,8 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=14 - title: 2025 Minnesota Form M1 instructions, Worksheet for Line 5 href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=14 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0121 Subd. 2 Disallowed Exemption Amount + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=1 JOINT: values: @@ -34,6 +36,7 @@ JOINT: 2023-01-01: 330_950 2024-01-01: 348_850 2025-01-01: 358_550 + 2026-01-01: 366_700 HEAD_OF_HOUSEHOLD: values: 2021-01-01: 249_800 @@ -41,6 +44,7 @@ HEAD_OF_HOUSEHOLD: 2023-01-01: 275_800 2024-01-01: 290_700 2025-01-01: 298_800 + 2026-01-01: 305_600 SURVIVING_SPOUSE: values: 2021-01-01: 299_750 @@ -48,6 +52,7 @@ SURVIVING_SPOUSE: 2023-01-01: 330_950 2024-01-01: 348_850 2025-01-01: 358_550 + 2026-01-01: 366_700 SINGLE: values: 2021-01-01: 199_850 @@ -55,6 +60,7 @@ SINGLE: 2023-01-01: 220_650 2024-01-01: 232_550 2025-01-01: 239_050 + 2026-01-01: 244_500 SEPARATE: values: 2021-01-01: 149_875 @@ -62,3 +68,4 @@ SEPARATE: 2023-01-01: 165_475 2024-01-01: 174_425 2025-01-01: 179_275 + 2026-01-01: 183_350 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/exemptions/amount.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/exemptions/amount.yaml index d0dc761ccbc..90ebdfdde6f 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/exemptions/amount.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/exemptions/amount.yaml @@ -5,6 +5,7 @@ values: 2023-01-01: 4_800 2024-01-01: 5_050 2025-01-01: 5_200 + 2026-01-01: 5_300 metadata: period: year @@ -31,3 +32,5 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=14 - title: 2025 Minnesota Form M1 instructions, Worksheet for Line 5 href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=14 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0121 Subd. 1 Dependent Exemption + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=1 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/rates/head_of_household.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/rates/head_of_household.yaml index 11e2c9e84d2..979102f2775 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/rates/head_of_household.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/rates/head_of_household.yaml @@ -11,6 +11,7 @@ brackets: 2023-01-01: 37_010 2024-01-01: 39_690 2025-01-01: 40_100 + 2026-01-01: 41_010 metadata: uprating: parameter: gov.irs.uprating @@ -26,6 +27,7 @@ brackets: 2023-01-01: 148_730 2024-01-01: 156_760 2025-01-01: 161_130 + 2026-01-01: 164_800 metadata: uprating: parameter: gov.irs.uprating @@ -41,6 +43,7 @@ brackets: 2023-01-01: 243_720 2024-01-01: 256_880 2025-01-01: 264_050 + 2026-01-01: 270_060 metadata: uprating: parameter: gov.irs.uprating @@ -71,3 +74,7 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=37 - title: 2025 Minnesota M1 form instructions, Tax Rate Schedules href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=39 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.06 Subd. 2c Income Tax Brackets + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=3 + - title: Minnesota Department of Revenue, Minnesota income tax brackets, standard deduction and dependent exemption amounts for 2026 (December 16, 2025) + href: https://www.revenue.state.mn.us/press-release/2025-12-16/minnesota-income-tax-brackets-standard-deduction-and-dependent-exemption diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/rates/joint.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/rates/joint.yaml index 977f112a60a..ced9d640d7f 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/rates/joint.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/rates/joint.yaml @@ -11,6 +11,7 @@ brackets: 2023-01-01: 43_950 2024-01-01: 46_330 2025-01-01: 47_620 + 2026-01-01: 48_700 metadata: uprating: parameter: gov.irs.uprating @@ -26,6 +27,7 @@ brackets: 2023-01-01: 174_610 2024-01-01: 184_040 2025-01-01: 189_180 + 2026-01-01: 193_480 metadata: uprating: parameter: gov.irs.uprating @@ -41,6 +43,7 @@ brackets: 2023-01-01: 304_970 2024-01-01: 321_450 2025-01-01: 330_410 + 2026-01-01: 337_930 metadata: uprating: parameter: gov.irs.uprating @@ -71,3 +74,7 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=37 - title: 2025 Minnesota M1 form instructions, Tax Rate Schedules href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=39 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.06 Subd. 2c Income Tax Brackets + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 + - title: Minnesota Department of Revenue, Minnesota income tax brackets, standard deduction and dependent exemption amounts for 2026 (December 16, 2025) + href: https://www.revenue.state.mn.us/press-release/2025-12-16/minnesota-income-tax-brackets-standard-deduction-and-dependent-exemption diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/rates/separate.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/rates/separate.yaml index 107a2f735a4..e5b4efc12c2 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/rates/separate.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/rates/separate.yaml @@ -11,6 +11,7 @@ brackets: 2023-01-01: 21_975 2024-01-01: 23_165 2025-01-01: 23_810 + 2026-01-01: 24_350 metadata: uprating: parameter: gov.irs.uprating @@ -26,6 +27,7 @@ brackets: 2023-01-01: 87_305 2024-01-01: 92_020 2025-01-01: 94_590 + 2026-01-01: 96_740 metadata: uprating: parameter: gov.irs.uprating @@ -41,6 +43,7 @@ brackets: 2023-01-01: 152_485 2024-01-01: 160_725 2025-01-01: 165_205 + 2026-01-01: 168_965 metadata: uprating: parameter: gov.irs.uprating @@ -71,3 +74,7 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=37 - title: 2025 Minnesota M1 form instructions, Tax Rate Schedules href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=39 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.06 Subd. 2c Income Tax Brackets + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 + - title: Minnesota Department of Revenue, Minnesota income tax brackets, standard deduction and dependent exemption amounts for 2026 (December 16, 2025) + href: https://www.revenue.state.mn.us/press-release/2025-12-16/minnesota-income-tax-brackets-standard-deduction-and-dependent-exemption diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/rates/single.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/rates/single.yaml index b835d6ce8f9..20da303ef0c 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/rates/single.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/rates/single.yaml @@ -11,6 +11,7 @@ brackets: 2023-01-01: 30_070 2024-01-01: 31_690 2025-01-01: 32_570 + 2026-01-01: 33_310 metadata: uprating: parameter: gov.irs.uprating @@ -26,6 +27,7 @@ brackets: 2023-01-01: 98_760 2024-01-01: 104_690 2025-01-01: 106_990 + 2026-01-01: 109_430 metadata: uprating: parameter: gov.irs.uprating @@ -41,6 +43,7 @@ brackets: 2023-01-01: 183_340 2024-01-01: 193_240 2025-01-01: 198_630 + 2026-01-01: 203_150 metadata: uprating: parameter: gov.irs.uprating @@ -71,3 +74,7 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=37 - title: 2025 Minnesota M1 form instructions, Tax Rate Schedules href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=39 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.06 Subd. 2c Income Tax Brackets + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=3 + - title: Minnesota Department of Revenue, Minnesota income tax brackets, standard deduction and dependent exemption amounts for 2026 (December 16, 2025) + href: https://www.revenue.state.mn.us/press-release/2025-12-16/minnesota-income-tax-brackets-standard-deduction-and-dependent-exemption diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/rates/surviving_spouse.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/rates/surviving_spouse.yaml index 7b200165eb3..040ca358699 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/rates/surviving_spouse.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/rates/surviving_spouse.yaml @@ -11,6 +11,7 @@ brackets: 2023-01-01: 43_950 2024-01-01: 46_330 2025-01-01: 47_620 + 2026-01-01: 48_700 metadata: uprating: parameter: gov.irs.uprating @@ -26,6 +27,7 @@ brackets: 2023-01-01: 174_610 2024-01-01: 184_040 2025-01-01: 189_180 + 2026-01-01: 193_480 metadata: uprating: parameter: gov.irs.uprating @@ -41,6 +43,7 @@ brackets: 2023-01-01: 304_970 2024-01-01: 321_450 2025-01-01: 330_410 + 2026-01-01: 337_930 metadata: uprating: parameter: gov.irs.uprating @@ -71,3 +74,7 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2026-01/m1-inst-24.pdf#page=37 - title: 2025 Minnesota M1 form instructions, Tax Rate Schedules href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=39 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.06 Subd. 2c Income Tax Brackets + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 + - title: Minnesota Department of Revenue, Minnesota income tax brackets, standard deduction and dependent exemption amounts for 2026 (December 16, 2025) + href: https://www.revenue.state.mn.us/press-release/2025-12-16/minnesota-income-tax-brackets-standard-deduction-and-dependent-exemption diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/pension_income/reduction/start.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/pension_income/reduction/start.yaml index 2d9589e52b1..f5abfdde23c 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/pension_income/reduction/start.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/pension_income/reduction/start.yaml @@ -20,29 +20,36 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2024-12/m1qpen-24.pdf#page=1 - title: 2025 M1QPEN, Qualified Public Pension Subtraction href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1qpen-25.pdf#page=1 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0132 Subd. 34 Public Pension Subtraction Phase-out Threshold + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 JOINT: values: 2023-01-01: 100_000 2024-01-01: 105_380 2025-01-01: 108_320 + 2026-01-01: 110_780 HEAD_OF_HOUSEHOLD: values: 2023-01-01: 78_000 2024-01-01: 82_190 2025-01-01: 84_490 + 2026-01-01: 86_410 SURVIVING_SPOUSE: values: 2023-01-01: 100_000 2024-01-01: 105_380 2025-01-01: 108_320 + 2026-01-01: 110_780 SINGLE: values: 2023-01-01: 78_000 2024-01-01: 82_190 2025-01-01: 84_490 + 2026-01-01: 86_410 SEPARATE: values: 2023-01-01: 50_000 2024-01-01: 52_690 2025-01-01: 54_160 + 2026-01-01: 55_390 diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/alternative_amount.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/alternative_amount.yaml index 03a257921a6..7ff43944be9 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/alternative_amount.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/alternative_amount.yaml @@ -3,11 +3,6 @@ metadata: label: Minnesota social security subtraction alternative subtraction amount period: year unit: currency-USD - uprating: - parameter: gov.irs.uprating - rounding: - type: nearest - interval: 10 propagate_metadata_to_children: true breakdown: - filing_status @@ -26,7 +21,11 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2025-11/m1m-24.pdf#page=4 - title: 2025 Minnesota Schedule M1M, Income Additions and Subtractions, Line 12 worksheet href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1m-25.pdf#page=4 -# No uprating for 2024 or 2025 (according to M1M) even if the legal code describes uprating. + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0132 Subd. 26 Social Security Subtraction, Alternate Subtraction Maximum Subtraction (Not Indexed) + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 +# Not indexed: Minn. Stat. 290.0132, subd. 26(j) adjusts only the simplified +# subtraction phaseout thresholds in paragraph (c), clauses (1) and (2), and the +# Department of Revenue lists these amounts as "Not Indexed" for 2026. JOINT: values: diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/income_amount.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/income_amount.yaml index ed5c8f8d820..989cf36bb88 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/income_amount.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/income_amount.yaml @@ -3,11 +3,6 @@ metadata: label: Minnesota social security subtraction income amount period: year unit: currency-USD - uprating: - parameter: gov.irs.uprating - rounding: - type: nearest - interval: 10 propagate_metadata_to_children: true breakdown: - filing_status @@ -26,7 +21,11 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2025-11/m1m-24.pdf#page=4 - title: 2025 Minnesota Schedule M1M, Income Additions and Subtractions, Line 12 worksheet href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1m-25.pdf#page=4 -# No uprating for 2024 or 2025 (according to M1M) even if the legal code describes uprating. + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0132 Subd. 26 Social Security Subtraction, Alternate Subtraction Phase-out Threshold (Not Indexed) + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 +# Not indexed: Minn. Stat. 290.0132, subd. 26(j) adjusts only the simplified +# subtraction phaseout thresholds in paragraph (c), clauses (1) and (2), and the +# Department of Revenue lists these amounts as "Not Indexed" for 2026. JOINT: values: diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/reduction/start.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/reduction/start.yaml index 469dfe63fc1..cfc6f5c55f0 100644 --- a/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/reduction/start.yaml +++ b/policyengine_us/parameters/gov/states/mn/tax/income/subtractions/social_security/reduction/start.yaml @@ -20,6 +20,8 @@ metadata: href: https://www.revenue.state.mn.us/sites/default/files/2025-11/m1m-24.pdf#page=4 - title: 2025 M1M, Income Additions and Subtractions href: https://www.revenue.state.mn.us/sites/default/files/2026-07/m1-inst-25.pdf#page=4 + - title: Minnesota Department of Revenue, Tax Year 2026 Inflation-Adjusted Amounts, 290.0132 Subd. 26 Social Security Subtraction, Simplified Subtraction Phase-out Threshold + href: https://www.revenue.state.mn.us/sites/default/files/2025-12/inflation-adjusted-amounts-2026.pdf#page=2 JOINT: @@ -27,23 +29,28 @@ JOINT: 2023-01-01: 100_000 2024-01-01: 105_380 2025-01-01: 108_320 + 2026-01-01: 110_780 HEAD_OF_HOUSEHOLD: values: 2023-01-01: 78_000 2024-01-01: 82_190 2025-01-01: 84_490 + 2026-01-01: 86_410 SURVIVING_SPOUSE: values: 2023-01-01: 100_000 2024-01-01: 105_380 2025-01-01: 108_320 + 2026-01-01: 110_780 SINGLE: values: 2023-01-01: 78_000 2024-01-01: 82_190 2025-01-01: 84_490 + 2026-01-01: 86_410 SEPARATE: values: 2023-01-01: 50_000 2024-01-01: 52_690 2025-01-01: 54_160 + 2026-01-01: 55_390 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml index a1cb923f6f3..21b2c40db3b 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml @@ -18,6 +18,7 @@ brackets: 2023-01-01: 1_207 2024-01-01: 1_273 2025-01-01: 1_313 + 2026-01-01: 1_348 metadata: uprating: gov.irs.uprating rate: @@ -31,6 +32,7 @@ brackets: 2023-01-01: 2_414 2024-01-01: 2_546 2025-01-01: 2_626 + 2026-01-01: 2_696 metadata: uprating: gov.irs.uprating rate: @@ -44,6 +46,7 @@ brackets: 2023-01-01: 3_621 2024-01-01: 3_819 2025-01-01: 3_939 + 2026-01-01: 4_044 metadata: uprating: gov.irs.uprating rate: @@ -57,6 +60,7 @@ brackets: 2023-01-01: 4_828 2024-01-01: 5_092 2025-01-01: 5_252 + 2026-01-01: 5_392 metadata: uprating: gov.irs.uprating rate: @@ -70,6 +74,7 @@ brackets: 2023-01-01: 6_035 2024-01-01: 6_365 2025-01-01: 6_565 + 2026-01-01: 6_740 metadata: uprating: gov.irs.uprating rate: @@ -83,6 +88,7 @@ brackets: 2023-01-01: 7_242 2024-01-01: 7_638 2025-01-01: 7_878 + 2026-01-01: 8_088 metadata: uprating: gov.irs.uprating rate: @@ -96,6 +102,7 @@ brackets: 2023-01-01: 8_449 2024-01-01: 8_911 2025-01-01: 9_191 + 2026-01-01: 9_436 metadata: uprating: gov.irs.uprating rate: @@ -118,14 +125,16 @@ brackets: 2023-01-01: 0.0495 # Set by 143.011.2(1) 2024-01-01: 0.048 # Reduced by 0.15% per 143.011.3(1) # First 0.1% reduction allowed per 143.011.4(1), confirmed in 2025 - # withholding formula. Statutes allow further reductions to 0.046 in 2026 - # and 0.045 in 2027, but we assume revenue conditions are not met until confirmed. + # withholding formula. 2025-01-01: 0.047 - # We model rates through 2025 based on 143.011: initial 4.95% rate in 2023 + # No further reduction for 2026: the 2026 Form MO-1040ES tax rate chart and + # the 2026 withholding formula keep the top rate at 4.7%. + 2026-01-01: 0.047 + # We model rates through 2026 based on 143.011: initial 4.95% rate in 2023 # (subsection 2(1)), 0.15% reduction to 4.8% in 2024 (subsection 3(1)), and first - # 0.1% reduction to 4.7% in 2025 (subsection 4(1)). We do not model potential - # further 0.1% reductions allowed in subsection 4 until revenue conditions are - # confirmed met. + # 0.1% reduction to 4.7% in 2025 (subsection 4(1)), unchanged in 2026. We do not + # model potential further 0.1% reductions allowed in subsection 4 until revenue + # conditions are confirmed met. metadata: reference: @@ -141,6 +150,10 @@ metadata: href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=26 - title: 2025 MO-1040 Book - Individual Income Tax Long Form href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=26 + - title: 2026 Form MO-1040ES, Declaration of Estimated Tax for Individuals, Tax Rate Chart + href: https://dor.mo.gov/forms/MO-1040ES_2026.pdf#page=2 + - title: 2026 Missouri Withholding Tax Formula + href: https://dor.mo.gov/forms/Withholding%20Formula_2026.pdf#page=2 - title: Missouri Legal Code, Chapter 143.011. Resident individuals — tax rates — rate reductions, when. href: https://revisor.mo.gov/main/OneSection.aspx?section=143.011&bid=51511&hl= - title: 2025 Missouri Withholding Tax Formula diff --git a/policyengine_us/parameters/gov/states/ne/tax/income/deductions/standard/additional_amount.yaml b/policyengine_us/parameters/gov/states/ne/tax/income/deductions/standard/additional_amount.yaml index fcc94dce811..43d2e0d7a32 100644 --- a/policyengine_us/parameters/gov/states/ne/tax/income/deductions/standard/additional_amount.yaml +++ b/policyengine_us/parameters/gov/states/ne/tax/income/deductions/standard/additional_amount.yaml @@ -24,6 +24,8 @@ metadata: href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2024/f_Individual_Income_Tax_Booklet.pdf#page=10 - title: 2025 Nebraska Individual Income Tax Booklet, Line 6 href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2025/f_Individual_Income_Tax_Booklet.pdf#page=13 + - title: 2026 Nebraska Individual Estimated Income Tax Payment Vouchers (Form 1040N-ES), Additional Standard Deduction for Elderly and/or Blind + href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2025/f_1040N-ES.pdf#page=5 SINGLE: values: @@ -32,6 +34,7 @@ SINGLE: 2023-01-01: 1_850 2024-01-01: 1_950 2025-01-01: 2_000 + 2026-01-01: 2_050 JOINT: values: @@ -40,6 +43,7 @@ JOINT: 2023-01-01: 1_500 2024-01-01: 1_600 2025-01-01: 1_650 + 2026-01-01: 1_700 SURVIVING_SPOUSE: values: @@ -48,6 +52,7 @@ SURVIVING_SPOUSE: 2023-01-01: 1_500 2024-01-01: 1_600 2025-01-01: 1_650 + 2026-01-01: 1_700 SEPARATE: values: @@ -56,6 +61,7 @@ SEPARATE: 2023-01-01: 1_500 2024-01-01: 1_600 2025-01-01: 1_650 + 2026-01-01: 1_700 HEAD_OF_HOUSEHOLD: values: @@ -64,3 +70,4 @@ HEAD_OF_HOUSEHOLD: 2023-01-01: 1_850 2024-01-01: 1_950 2025-01-01: 2_000 + 2026-01-01: 2_050 diff --git a/policyengine_us/parameters/gov/states/ne/tax/income/deductions/standard/base_amount.yaml b/policyengine_us/parameters/gov/states/ne/tax/income/deductions/standard/base_amount.yaml index b6fb62dd1d7..e8e9a3163a8 100644 --- a/policyengine_us/parameters/gov/states/ne/tax/income/deductions/standard/base_amount.yaml +++ b/policyengine_us/parameters/gov/states/ne/tax/income/deductions/standard/base_amount.yaml @@ -24,6 +24,11 @@ metadata: href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2024/f_Individual_Income_Tax_Booklet.pdf#page=10 - title: 2025 Nebraska Individual Income Tax Booklet, Line 6 href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2025/f_Individual_Income_Tax_Booklet.pdf#page=13 + # The 2026 worksheet lists single, joint, head of household and separate + # amounts; the qualifying surviving spouse amount equals the joint amount, + # as on the 2025 booklet's line 6 table. + - title: 2026 Nebraska Individual Estimated Income Tax Payment Vouchers (Form 1040N-ES), Income Tax Worksheet line 5 + href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2025/f_1040N-ES.pdf#page=4 JOINT: values: @@ -32,6 +37,7 @@ JOINT: 2023-01-01: 15_800 2024-01-01: 16_700 2025-01-01: 17_200 + 2026-01-01: 17_700 HEAD_OF_HOUSEHOLD: values: @@ -40,6 +46,7 @@ HEAD_OF_HOUSEHOLD: 2023-01-01: 11_600 2024-01-01: 12_250 2025-01-01: 12_600 + 2026-01-01: 12_950 SURVIVING_SPOUSE: values: @@ -48,6 +55,7 @@ SURVIVING_SPOUSE: 2023-01-01: 15_800 2024-01-01: 16_700 2025-01-01: 17_200 + 2026-01-01: 17_700 SINGLE: values: @@ -56,6 +64,7 @@ SINGLE: 2023-01-01: 7_900 2024-01-01: 8_350 2025-01-01: 8_600 + 2026-01-01: 8_850 SEPARATE: values: @@ -64,3 +73,4 @@ SEPARATE: 2023-01-01: 7_900 2024-01-01: 8_350 2025-01-01: 8_600 + 2026-01-01: 8_850 diff --git a/policyengine_us/parameters/gov/states/ne/tax/income/exemptions/amount.yaml b/policyengine_us/parameters/gov/states/ne/tax/income/exemptions/amount.yaml index 20487c1b2cc..f10edc2ddae 100644 --- a/policyengine_us/parameters/gov/states/ne/tax/income/exemptions/amount.yaml +++ b/policyengine_us/parameters/gov/states/ne/tax/income/exemptions/amount.yaml @@ -5,6 +5,7 @@ values: 2023-01-01: 157 2024-01-01: 166 2025-01-01: 171 + 2026-01-01: 176 metadata: period: year @@ -24,3 +25,5 @@ metadata: href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2024/f_Individual_Income_Tax_Booklet.pdf#page=11 - title: 2025 Nebraska Individual Income Tax Booklet, Line 18 href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2025/f_Individual_Income_Tax_Booklet.pdf#page=14 + - title: 2026 Nebraska Estimated Income Tax Rate Schedule (Form 1040N-ES), personal exemption credit + href: https://revenue.nebraska.gov/sites/default/files/doc/tax-forms/2025/f_1040N-ES.pdf#page=6 diff --git a/policyengine_us/parameters/gov/states/or/tax/income/rates/head_of_household.yaml b/policyengine_us/parameters/gov/states/or/tax/income/rates/head_of_household.yaml index 9ae4fe1773e..e727a20ae67 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/rates/head_of_household.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/rates/head_of_household.yaml @@ -20,6 +20,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-n_or-40-p-inst_101-048-1_2024.pdf#page=21 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=17 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, rate charts for 2026 (Charts S and J) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), annual wages formula + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=6 brackets: - threshold: 1993-01-01: 0 @@ -40,6 +44,7 @@ brackets: 2023-01-01: 8_100 2024-01-01: 8_600 2025-01-01: 8_800 + 2026-01-01: 9_100 metadata: uprating: parameter: gov.irs.uprating @@ -61,6 +66,7 @@ brackets: 2023-01-01: 20_400 2024-01-01: 21_500 2025-01-01: 22_200 + 2026-01-01: 22_800 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/rates/joint.yaml b/policyengine_us/parameters/gov/states/or/tax/income/rates/joint.yaml index d7846ff79d7..1de42729d4e 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/rates/joint.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/rates/joint.yaml @@ -20,6 +20,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-n_or-40-p-inst_101-048-1_2024.pdf#page=21 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=17 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, rate charts for 2026 (Charts S and J) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), annual wages formula + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=6 brackets: - threshold: 1993-01-01: 0 @@ -40,6 +44,7 @@ brackets: 2023-01-01: 8_100 2024-01-01: 8_600 2025-01-01: 8_800 + 2026-01-01: 9_100 metadata: uprating: parameter: gov.irs.uprating @@ -61,6 +66,7 @@ brackets: 2023-01-01: 20_400 2024-01-01: 21_500 2025-01-01: 22_200 + 2026-01-01: 22_800 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/rates/separate.yaml b/policyengine_us/parameters/gov/states/or/tax/income/rates/separate.yaml index 998e1ff3933..6b9c6059dfa 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/rates/separate.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/rates/separate.yaml @@ -22,6 +22,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2024.pdf#page=28 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=17 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, rate charts for 2026 (Charts S and J) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), annual wages formula + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=6 brackets: # "* Since 1993 the tax brackets have been indexed for inflation. # ** In 2002, the inflation index changed from the Portland CPI to the U.S. city average CPI." @@ -45,6 +49,7 @@ brackets: 2023-01-01: 4_050 2024-01-01: 4_300 2025-01-01: 4_400 + 2026-01-01: 4_550 metadata: uprating: parameter: gov.irs.uprating @@ -66,6 +71,7 @@ brackets: 2023-01-01: 10_200 2024-01-01: 10_750 2025-01-01: 11_100 + 2026-01-01: 11_400 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/rates/single.yaml b/policyengine_us/parameters/gov/states/or/tax/income/rates/single.yaml index 43bc60fab51..85dc9093370 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/rates/single.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/rates/single.yaml @@ -22,6 +22,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-n_or-40-p-inst_101-048-1_2024.pdf#page=21 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=17 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, rate charts for 2026 (Charts S and J) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), annual wages formula + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=6 brackets: # "* Since 1993 the tax brackets have been indexed for inflation. # ** In 2002, the inflation index changed from the Portland CPI to the U.S. city average CPI." @@ -45,6 +49,7 @@ brackets: 2023-01-01: 4_050 2024-01-01: 4_300 2025-01-01: 4_400 + 2026-01-01: 4_550 metadata: uprating: parameter: gov.irs.uprating @@ -66,6 +71,7 @@ brackets: 2023-01-01: 10_200 2024-01-01: 10_750 2025-01-01: 11_100 + 2026-01-01: 11_400 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/rates/surviving_spouse.yaml b/policyengine_us/parameters/gov/states/or/tax/income/rates/surviving_spouse.yaml index 4381113f779..9d08e03ebfe 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/rates/surviving_spouse.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/rates/surviving_spouse.yaml @@ -20,6 +20,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-n_or-40-p-inst_101-048-1_2024.pdf#page=21 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=17 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, rate charts for 2026 (Charts S and J) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), annual wages formula + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=6 brackets: - threshold: 1993-01-01: 0 @@ -40,6 +44,7 @@ brackets: 2023-01-01: 8_100 2024-01-01: 8_600 2025-01-01: 8_800 + 2026-01-01: 9_100 metadata: uprating: parameter: gov.irs.uprating @@ -61,6 +66,7 @@ brackets: 2023-01-01: 20_400 2024-01-01: 21_500 2025-01-01: 22_200 + 2026-01-01: 22_800 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/head_of_household.yaml b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/head_of_household.yaml index d2564f4c3a8..431c7ecdab8 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/head_of_household.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/head_of_household.yaml @@ -18,6 +18,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2024.pdf#page=15 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=15 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, estimated Oregon indexed figures for tax year 2026 (federal tax subtraction $0 to $8,750) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), federal tax withheld phase-out + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=7 brackets: - threshold: 2021-01-01: 0 @@ -28,6 +32,7 @@ brackets: 2023-01-01: 7_800 2024-01-01: 8_250 2025-01-01: 8_500 + 2026-01-01: 8_750 metadata: uprating: parameter: gov.irs.uprating @@ -43,6 +48,7 @@ brackets: 2023-01-01: 6_250 2024-01-01: 6_600 2025-01-01: 6_800 + 2026-01-01: 7_000 metadata: uprating: parameter: gov.irs.uprating @@ -58,6 +64,7 @@ brackets: 2023-01-01: 4_700 2024-01-01: 5_000 2025-01-01: 5_100 + 2026-01-01: 5_250 metadata: uprating: parameter: gov.irs.uprating @@ -73,6 +80,7 @@ brackets: 2023-01-01: 3_100 2024-01-01: 3_300 2025-01-01: 3_400 + 2026-01-01: 3_500 metadata: uprating: parameter: gov.irs.uprating @@ -88,6 +96,7 @@ brackets: 2023-01-01: 1_550 2024-01-01: 1_650 2025-01-01: 1_700 + 2026-01-01: 1_750 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/joint.yaml b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/joint.yaml index d1927cbbe0d..87071fe9449 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/joint.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/joint.yaml @@ -18,6 +18,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2024.pdf#page=15 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=15 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, estimated Oregon indexed figures for tax year 2026 (federal tax subtraction $0 to $8,750) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), federal tax withheld phase-out + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=7 brackets: - threshold: 2021-01-01: 0 @@ -28,6 +32,7 @@ brackets: 2023-01-01: 7_800 2024-01-01: 8_250 2025-01-01: 8_500 + 2026-01-01: 8_750 metadata: uprating: parameter: gov.irs.uprating @@ -43,6 +48,7 @@ brackets: 2023-01-01: 6_250 2024-01-01: 6_600 2025-01-01: 6_800 + 2026-01-01: 7_000 metadata: uprating: parameter: gov.irs.uprating @@ -58,6 +64,7 @@ brackets: 2023-01-01: 4_700 2024-01-01: 5_000 2025-01-01: 5_100 + 2026-01-01: 5_250 metadata: uprating: parameter: gov.irs.uprating @@ -73,6 +80,7 @@ brackets: 2023-01-01: 3_100 2024-01-01: 3_300 2025-01-01: 3_400 + 2026-01-01: 3_500 metadata: uprating: parameter: gov.irs.uprating @@ -88,6 +96,7 @@ brackets: 2023-01-01: 1_550 2024-01-01: 1_650 2025-01-01: 1_700 + 2026-01-01: 1_750 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/separate.yaml b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/separate.yaml index d7ca4e15c49..44ba9cf88d5 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/separate.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/separate.yaml @@ -18,6 +18,12 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2024.pdf#page=15 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=15 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, estimated Oregon indexed figures for tax year 2026 (federal tax subtraction $0 to $8,750) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), federal tax withheld phase-out + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=7 + # ORS 316.680(3)(d): married filing separately uses 50 percent of the + # individual amounts, so 2026 is half of 8,750 / 7,000 / 5,250 / 3,500 / 1,750. brackets: - threshold: 2021-01-01: 0 @@ -28,6 +34,7 @@ brackets: 2023-01-01: 3_900 2024-01-01: 4_125 2025-01-01: 4_250 + 2026-01-01: 4_375 metadata: uprating: parameter: gov.irs.uprating @@ -43,6 +50,7 @@ brackets: 2023-01-01: 3_125 2024-01-01: 3_300 2025-01-01: 3_400 + 2026-01-01: 3_500 metadata: uprating: parameter: gov.irs.uprating @@ -58,6 +66,7 @@ brackets: 2023-01-01: 2_350 2024-01-01: 2_500 2025-01-01: 2_550 + 2026-01-01: 2_625 metadata: uprating: parameter: gov.irs.uprating @@ -73,6 +82,7 @@ brackets: 2023-01-01: 1_550 2024-01-01: 1_650 2025-01-01: 1_700 + 2026-01-01: 1_750 metadata: uprating: parameter: gov.irs.uprating @@ -88,6 +98,7 @@ brackets: 2023-01-01: 775 2024-01-01: 825 2025-01-01: 850 + 2026-01-01: 875 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/single.yaml b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/single.yaml index 3f1f31a548f..bd63ff2ea6f 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/single.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/single.yaml @@ -18,6 +18,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2024.pdf#page=15 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=15 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, estimated Oregon indexed figures for tax year 2026 (federal tax subtraction $0 to $8,750) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), federal tax withheld phase-out + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=7 brackets: - threshold: 2021-01-01: 0 @@ -28,6 +32,7 @@ brackets: 2023-01-01: 7_800 2024-01-01: 8_250 2025-01-01: 8_500 + 2026-01-01: 8_750 metadata: uprating: parameter: gov.irs.uprating @@ -43,6 +48,7 @@ brackets: 2023-01-01: 6_250 2024-01-01: 6_600 2025-01-01: 6_800 + 2026-01-01: 7_000 metadata: uprating: parameter: gov.irs.uprating @@ -58,6 +64,7 @@ brackets: 2023-01-01: 4_700 2024-01-01: 5_000 2025-01-01: 5_100 + 2026-01-01: 5_250 metadata: uprating: parameter: gov.irs.uprating @@ -73,6 +80,7 @@ brackets: 2023-01-01: 3_100 2024-01-01: 3_300 2025-01-01: 3_400 + 2026-01-01: 3_500 metadata: uprating: parameter: gov.irs.uprating @@ -88,6 +96,7 @@ brackets: 2023-01-01: 1_550 2024-01-01: 1_650 2025-01-01: 1_700 + 2026-01-01: 1_750 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/surviving_spouse.yaml b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/surviving_spouse.yaml index 7989a84f938..859f98b1799 100644 --- a/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/surviving_spouse.yaml +++ b/policyengine_us/parameters/gov/states/or/tax/income/subtractions/federal_tax_liability/cap/surviving_spouse.yaml @@ -18,6 +18,10 @@ metadata: href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2024.pdf#page=15 - title: 2025 Oregon Income Tax Form OR-40 Instructions href: https://www.oregon.gov/dor/forms/FormsPubs/form-or-40-inst_101-040-1_2025.pdf#page=15 + - title: 2026 Publication OR-ESTIMATE, Oregon Estimated Income Tax Instructions, estimated Oregon indexed figures for tax year 2026 (federal tax subtraction $0 to $8,750) + href: https://www.oregon.gov/dor/forms/FormsPubs/publication-or-estimate_101-026_2026.pdf#page=3 + - title: 2026 Oregon Withholding Tax Formulas (150-206-436), federal tax withheld phase-out + href: https://www.oregon.gov/dor/forms/FormsPubs/withholding-tax-formulas_206-436_2026.pdf#page=7 brackets: - threshold: 2021-01-01: 0 @@ -28,6 +32,7 @@ brackets: 2023-01-01: 7_800 2024-01-01: 8_250 2025-01-01: 8_500 + 2026-01-01: 8_750 metadata: uprating: parameter: gov.irs.uprating @@ -43,6 +48,7 @@ brackets: 2023-01-01: 6_250 2024-01-01: 6_600 2025-01-01: 6_800 + 2026-01-01: 7_000 metadata: uprating: parameter: gov.irs.uprating @@ -58,6 +64,7 @@ brackets: 2023-01-01: 4_700 2024-01-01: 5_000 2025-01-01: 5_100 + 2026-01-01: 5_250 metadata: uprating: parameter: gov.irs.uprating @@ -73,6 +80,7 @@ brackets: 2023-01-01: 3_100 2024-01-01: 3_300 2025-01-01: 3_400 + 2026-01-01: 3_500 metadata: uprating: parameter: gov.irs.uprating @@ -88,6 +96,7 @@ brackets: 2023-01-01: 1_550 2024-01-01: 1_650 2025-01-01: 1_700 + 2026-01-01: 1_750 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/max.yaml b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/max.yaml index 75a1fc0b3ff..356fbb3d41f 100644 --- a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/max.yaml +++ b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/max.yaml @@ -25,6 +25,8 @@ metadata: href: https://www.revenue.wi.gov/DORReports/25sumrpt.pdf#page=9 - title: 2025 Form 1-ES instructions, Standard Deduction Table href: https://www.revenue.wi.gov/TaxForms2025/2025-Form1-ES-Inst.pdf#page=3 + - title: 2026 Form 1-ES instructions, 2026 Standard Deduction schedules + href: https://www.revenue.wi.gov/TaxForms2026/2026-Form1-ES-Inst.pdf#page=2 - title: 2024 Form 1 instructions, Standard Deduction Table href: https://www.revenue.wi.gov/TaxForms2024/2024-Form1-inst.pdf#page=35 - title: 2025 Form 1 instructions, Standard Deduction Table @@ -36,27 +38,32 @@ SINGLE: 2023-01-01: 12_760 2024-01-01: 13_230 2025-01-01: 13_560 + 2026-01-01: 13_960 JOINT: 2021-01-01: 20_730 2022-01-01: 21_820 2023-01-01: 23_620 2024-01-01: 24_490 2025-01-01: 25_110 + 2026-01-01: 25_840 SURVIVING_SPOUSE: 2021-01-01: 20_730 2022-01-01: 21_820 2023-01-01: 23_620 2024-01-01: 24_490 2025-01-01: 25_110 + 2026-01-01: 25_840 SEPARATE: 2021-01-01: 9_850 2022-01-01: 10_370 2023-01-01: 11_220 2024-01-01: 11_630 2025-01-01: 11_930 + 2026-01-01: 12_280 HEAD_OF_HOUSEHOLD: 2021-01-01: 14_470 2022-01-01: 15_230 2023-01-01: 16_480 2024-01-01: 17_090 2025-01-01: 17_520 + 2026-01-01: 18_030 diff --git a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/head_of_household.yaml b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/head_of_household.yaml index 837c27ac38b..2cd5ab896ef 100644 --- a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/head_of_household.yaml +++ b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/head_of_household.yaml @@ -16,6 +16,8 @@ metadata: href: https://www.revenue.wi.gov/DORReports/25sumrpt.pdf#page=9 - title: 2025 Form 1-ES instructions, Standard Deduction Table href: https://www.revenue.wi.gov/TaxForms2025/2025-Form1-ES-Inst.pdf#page=3 + - title: 2026 Form 1-ES instructions, 2026 Standard Deduction schedules + href: https://www.revenue.wi.gov/TaxForms2026/2026-Form1-ES-Inst.pdf#page=2 # The legal code provides inflaton unadjusted amounts - title: Wisconsin Statutes 71.07 (9)(b)(5) href: https://docs.legis.wisconsin.gov/2023/statutes/statutes/71/i/05/22/dm @@ -34,6 +36,7 @@ brackets: 2023-01-01: 18_400 2024-01-01: 19_070 2025-01-01: 19_550 + 2026-01-01: 20_120 metadata: uprating: parameter: gov.irs.uprating @@ -49,6 +52,7 @@ brackets: 2023-01-01: 53_778 2024-01-01: 55_779 2025-01-01: 57_210 + 2026-01-01: 58_827 metadata: uprating: gov.irs.uprating rate: diff --git a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/joint.yaml b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/joint.yaml index e1f6e7a4b7a..19724f899aa 100644 --- a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/joint.yaml +++ b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/joint.yaml @@ -16,6 +16,8 @@ metadata: href: https://www.revenue.wi.gov/DORReports/25sumrpt.pdf#page=9 - title: 2025 Form 1-ES instructions, Standard Deduction Table href: https://www.revenue.wi.gov/TaxForms2025/2025-Form1-ES-Inst.pdf#page=3 + - title: 2026 Form 1-ES instructions, 2026 Standard Deduction schedules + href: https://www.revenue.wi.gov/TaxForms2026/2026-Form1-ES-Inst.pdf#page=2 # The legal code provides inflaton unadjusted amounts - title: Wisconsin Statutes 71.07 (9)(b)(5) href: https://docs.legis.wisconsin.gov/2023/statutes/statutes/71/i/05/22/dm @@ -34,6 +36,7 @@ brackets: 2023-01-01: 26_550 2024-01-01: 27_520 2025-01-01: 28_210 + 2026-01-01: 29_040 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/separate.yaml b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/separate.yaml index 446b4659f66..bb94f04721d 100644 --- a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/separate.yaml +++ b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/separate.yaml @@ -16,6 +16,8 @@ metadata: href: https://www.revenue.wi.gov/DORReports/25sumrpt.pdf#page=9 - title: 2025 Form 1-ES instructions, Standard Deduction Table href: https://www.revenue.wi.gov/TaxForms2025/2025-Form1-ES-Inst.pdf#page=3 + - title: 2026 Form 1-ES instructions, 2026 Standard Deduction schedules + href: https://www.revenue.wi.gov/TaxForms2026/2026-Form1-ES-Inst.pdf#page=2 # The legal code provides inflaton unadjusted amounts - title: Wisconsin Statutes 71.07 (9)(b)(5) href: https://docs.legis.wisconsin.gov/2023/statutes/statutes/71/i/05/22/dm @@ -34,6 +36,7 @@ brackets: 2023-01-01: 12_600 2024-01-01: 13_060 2025-01-01: 13_390 + 2026-01-01: 13_780 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/single.yaml b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/single.yaml index 85bf387f483..b0af1234aa3 100644 --- a/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/single.yaml +++ b/policyengine_us/parameters/gov/states/wi/tax/income/deductions/standard/phase_out/single.yaml @@ -16,6 +16,8 @@ metadata: href: https://www.revenue.wi.gov/DORReports/25sumrpt.pdf#page=9 - title: 2025 Form 1-ES instructions, Standard Deduction Table href: https://www.revenue.wi.gov/TaxForms2025/2025-Form1-ES-Inst.pdf#page=3 + - title: 2026 Form 1-ES instructions, 2026 Standard Deduction schedules + href: https://www.revenue.wi.gov/TaxForms2026/2026-Form1-ES-Inst.pdf#page=2 # The legal code provides inflaton unadjusted amounts - title: Wisconsin Statutes 71.07 (9)(b)(5) href: https://docs.legis.wisconsin.gov/2023/statutes/statutes/71/i/05/22/dm @@ -34,6 +36,7 @@ brackets: 2023-01-01: 18_400 2024-01-01: 19_070 2025-01-01: 19_550 + 2026-01-01: 20_120 metadata: uprating: parameter: gov.irs.uprating diff --git a/policyengine_us/tests/core/test_state_uprating_rounding.py b/policyengine_us/tests/core/test_state_uprating_rounding.py index 083c61f6dad..4fb2ed19fbe 100644 --- a/policyengine_us/tests/core/test_state_uprating_rounding.py +++ b/policyengine_us/tests/core/test_state_uprating_rounding.py @@ -139,24 +139,31 @@ def test_vt_income_tax_thresholds_round_down_to_fifty_dollars( @pytest.mark.parametrize( - ("filing_status", "expected"), + ("filing_status", "published_2026"), ( - ("head_of_household", 19_990), - ("joint", 28_850), - ("separate", 13_690), - ("single", 19_990), + # 2026 Form 1-ES instructions, 2026 Standard Deduction schedules. + ("head_of_household", 20_120), + ("joint", 29_040), + ("separate", 13_780), + ("single", 20_120), ), ) def test_wi_standard_deduction_phase_out_thresholds_round_to_ten_dollars( filing_status, - expected, + published_2026, ): scale = getattr( SYSTEM.parameters.gov.states.wi.tax.income.deductions.standard.phase_out, filing_status, ) + uprating = SYSTEM.parameters.gov.irs.uprating - assert scale.brackets[1].threshold("2026-01-01") == expected + assert scale.brackets[1].threshold("2026-01-01") == published_2026 + # Later years project from the published 2026 start, rounded to the + # nearest $10. Expected values follow the loaded index. + factor = uprating("2027-01-01") / uprating("2026-01-01") + expected_2027 = round(published_2026 * factor / 10) * 10 + assert scale.brackets[1].threshold("2027-01-01") == expected_2027 @pytest.mark.parametrize( diff --git a/policyengine_us/tests/policy/baseline/gov/states/ky/tax/income/deductions/ky_standard_deduction_indiv.yaml b/policyengine_us/tests/policy/baseline/gov/states/ky/tax/income/deductions/ky_standard_deduction_indiv.yaml index 478a498c408..4515c6b7be6 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/ky/tax/income/deductions/ky_standard_deduction_indiv.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/ky/tax/income/deductions/ky_standard_deduction_indiv.yaml @@ -54,3 +54,23 @@ state_code: KY output: ky_standard_deduction_indiv: [2_770, 2_770] + +- name: 2026 head & spouse each get the published $3,360 standard deduction + period: 2026 + input: + people: + person1: + is_tax_unit_head: true + person2: + is_tax_unit_spouse: true + tax_units: + tax_unit: + members: [person1, person2] + households: + household: + members: [person1, person2] + state_code: KY + output: + # Kentucky DOR, "Kentucky DOR Announces 2026 Standard Deduction" + # (September 4, 2025): "the standard deduction for 2026 is $3,360". + ky_standard_deduction_indiv: [3_360, 3_360] diff --git a/policyengine_us/tests/policy/baseline/gov/states/mi/tax/income/exemptions/mi_personal_exemptions.yaml b/policyengine_us/tests/policy/baseline/gov/states/mi/tax/income/exemptions/mi_personal_exemptions.yaml index 9d5b704a798..9a6483673e3 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mi/tax/income/exemptions/mi_personal_exemptions.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mi/tax/income/exemptions/mi_personal_exemptions.yaml @@ -124,3 +124,14 @@ output: # 2 filers * $5,800 = $11,600 mi_personal_exemptions: 11_600 + +- name: 2026 joint filers with two dependents use the $5,900 personal exemption + period: 2026 + input: + tax_unit_size: 4 + tax_unit_stillborn_children: 0 + state_code: MI + output: + # 2026 Form 446, page 1: "Personal Exemption Amount: $5,900". + # 4 * 5,900 = 23,600 + mi_personal_exemptions: 23_600 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mi/tax/income/integration.yaml b/policyengine_us/tests/policy/baseline/gov/states/mi/tax/income/integration.yaml index 1bf9fe2803b..7a7a2b80685 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mi/tax/income/integration.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mi/tax/income/integration.yaml @@ -195,7 +195,9 @@ output: adjusted_gross_income: 39_260 taxable_social_security: 9_260 - mi_personal_exemptions: 5_950 - mi_standard_deduction_tier_three: 14_050 + # 2026 personal exemption $5,900 (2026 Form 446); the tier 3 deduction is + # 20,000 - 5,900 = 14,100, so taxable income is unchanged. + mi_personal_exemptions: 5_900 + mi_standard_deduction_tier_three: 14_100 mi_taxable_income: 10_000 mi_income_tax_before_refundable_credits: 425 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/k12_education/mn_k12_education_credit.yaml b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/k12_education/mn_k12_education_credit.yaml index cef60a75b75..d7602e5330f 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/k12_education/mn_k12_education_credit.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/k12_education/mn_k12_education_credit.yaml @@ -75,3 +75,35 @@ mn_k12_qualifying_children: 0 output: mn_k12_education_credit: 0 + +# 2026 phase-out threshold of $77,550 from the Minnesota DOR Tax Year 2026 +# Inflation-Adjusted Amounts, 290.0674 Subd. 2 (page 3). +- name: Minnesota K-12 Education Credit 2026 - single child with phase-out + absolute_error_margin: 0.01 + period: 2026 + input: + state_code: MN + adjusted_gross_income: 80_000 + k12_tuition_and_fees: 3_000 + mn_k12_qualifying_children: 1 + output: + # Excess income = 80,000 - 77,550 = 2,450 + # Credit limit = 1,500 - 2,450 / 4 = 1,500 - 612.50 = 887.50 + # Expense credit = 3,000 * 0.75 = 2,250 + # Credit = min(2,250, 887.50) = 887.50 + mn_k12_education_credit: 887.5 + +- name: Minnesota K-12 Education Credit 2026 - two children above the 2025 income limit + absolute_error_margin: 0.01 + period: 2026 + input: + state_code: MN + adjusted_gross_income: 83_000 + k12_tuition_and_fees: 5_000 + mn_k12_qualifying_children: 2 + output: + # Income limit for one or two children = 77,550 + 6,000 = 83,550 > 83,000. + # Excess income = 83,000 - 77,550 = 5,450 + # Credit limit = 2 * 1,500 - 5,450 * 2 / 4 = 3,000 - 2,725 = 275 + # Expense credit = 5,000 * 0.75 = 3,750 + mn_k12_education_credit: 275 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/mn_child_and_working_families_credits_2026.yaml b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/mn_child_and_working_families_credits_2026.yaml new file mode 100644 index 00000000000..ad0dac938a8 --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/mn_child_and_working_families_credits_2026.yaml @@ -0,0 +1,64 @@ +# 2026 amounts from the Minnesota DOR Tax Year 2026 Inflation-Adjusted Amounts +# (page 3): child credit $1,800 (290.0661 Subd. 3); phase-out threshold $32,680 +# for filers other than married joint (290.0661 Subd. 4); working family credit +# of 4% of the first $9,690 of earned income plus $1,020, $2,330 or $2,770 for +# one, two or three or more qualifying older children (290.0671 Subd. 1). +- name: MN child and working family credits 2026 single parent with two qualifying older children + absolute_error_margin: 0.01 + period: 2026 + input: + people: + parent: + age: 45 + employment_income: 40_000 + is_tax_unit_head: true + child1: + age: 19 + is_full_time_student: true + is_tax_unit_spouse: false + is_tax_unit_dependent: true + child2: + age: 20 + is_full_time_student: true + is_tax_unit_spouse: false + is_tax_unit_dependent: true + tax_units: + tax_unit: + members: [parent, child1, child2] + households: + household: + members: [parent, child1, child2] + state_code: MN + output: + # Head of household. No child credit (no child under 18), so the 9% + # phase-out rate for filers with only qualifying older children applies. + # Working family credit = 4% x 9,690 + 2,330 = 387.60 + 2,330 = 2,717.60 + # Phase-out = 9% x (40,000 - 32,680) = 9% x 7,320 = 658.80 + # Credit = 2,717.60 - 658.80 = 2,058.80 + mn_child_and_working_families_credits: 2_058.8 + +- name: MN child and working family credits 2026 single parent with one child under 18 + absolute_error_margin: 0.01 + period: 2026 + input: + people: + parent: + age: 45 + employment_income: 35_000 + is_tax_unit_head: true + child: + age: 10 + is_tax_unit_spouse: false + is_tax_unit_dependent: true + tax_units: + tax_unit: + members: [parent, child] + households: + household: + members: [parent, child] + state_code: MN + output: + # Child credit 1,800 + working family credit 4% x 9,690 = 387.60 -> 2,187.60 + # Phase-out = 12% x (35,000 - 32,680) = 12% x 2,320 = 278.40 + # Credit = 2,187.60 - 278.40 = 1,909.20 + mn_child_and_working_families_credits: 1_909.2 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/mn_renters_credit.yaml b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/mn_renters_credit.yaml index 6c6d9bb6683..769ac968a83 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/mn_renters_credit.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/credits/mn_renters_credit.yaml @@ -99,3 +99,32 @@ output: mn_renters_credit_eligible: false mn_renters_credit: 0 + +# 2026 renter's credit schedule from the Minnesota DOR Tax Year 2026 +# Inflation-Adjusted Amounts, 290.0693 Subd. 3 (page 5). +- name: Minnesota renter's credit 2026 in the $20,410 - $22,669 band + absolute_error_margin: 0.01 + period: 2026 + input: + state_code: MN + mn_renters_credit_eligible: true + mn_renters_credit_household_income: 22_665 + mn_rent_constituting_property_taxes: 1_500 + output: + # Band: 1.4% of income, claimant pays 15%, maximum credit $2,490. + # Excess rent = 1,500 - 0.014 * 22,665 = 1,500 - 317.31 = 1,182.69 + # Credit = round(1,182.69 * 0.85) = round(1,005.29) = 1,005 + mn_renters_credit: 1_005 + +- name: Minnesota renter's credit 2026 in the top $77,070 - $79,329 band + absolute_error_margin: 0.01 + period: 2026 + input: + state_code: MN + mn_renters_credit_eligible: true + mn_renters_credit_household_income: 79_325 + mn_rent_constituting_property_taxes: 3_000 + output: + # Band: 2.0% of income, claimant pays 50%, maximum credit $270. + # Excess rent = 3,000 - 0.02 * 79,325 = 1,413.50; 50% = 706.75 > 270. + mn_renters_credit: 270 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_basic_tax_2026.yaml b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_basic_tax_2026.yaml new file mode 100644 index 00000000000..13034ea7fa7 --- /dev/null +++ b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_basic_tax_2026.yaml @@ -0,0 +1,45 @@ +# 2026 thresholds from the Minnesota DOR Tax Year 2026 Inflation-Adjusted +# Amounts, 290.06 Subd. 2c (pages 2-3), and the DOR's December 16, 2025 release. +- name: MN basic tax 2026 single filer in the 7.85% bracket + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: SINGLE + mn_taxable_income: 110_000 + state_code: MN + output: + # Single: 5.35% to 33,310; 6.80% to 109,430; 7.85% to 203,150. + mn_basic_tax: 0.0535 * 33_310 + 0.068 * (109_430 - 33_310) + 0.0785 * (110_000 - 109_430) + +- name: MN basic tax 2026 joint filer in the 7.85% bracket + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: JOINT + mn_taxable_income: 200_000 + state_code: MN + output: + # Married joint: 5.35% to 48,700; 6.80% to 193,480; 7.85% to 337,930. + mn_basic_tax: 0.0535 * 48_700 + 0.068 * (193_480 - 48_700) + 0.0785 * (200_000 - 193_480) + +- name: MN basic tax 2026 head of household in the 9.85% bracket + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: HEAD_OF_HOUSEHOLD + mn_taxable_income: 271_000 + state_code: MN + output: + # Head of household: 5.35% to 41,010; 6.80% to 164,800; 7.85% to 270,060. + mn_basic_tax: 0.0535 * 41_010 + 0.068 * (164_800 - 41_010) + 0.0785 * (270_060 - 164_800) + 0.0985 * (271_000 - 270_060) + +- name: MN basic tax 2026 married filing separately in the 9.85% bracket + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: SEPARATE + mn_taxable_income: 169_000 + state_code: MN + output: + # Married separate: 5.35% to 24,350; 6.80% to 96,740; 7.85% to 168,965. + mn_basic_tax: 0.0535 * 24_350 + 0.068 * (96_740 - 24_350) + 0.0785 * (168_965 - 96_740) + 0.0985 * (169_000 - 168_965) diff --git a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_exemptions.yaml b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_exemptions.yaml index 254e12a4d8e..7e685815055 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_exemptions.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_exemptions.yaml @@ -41,3 +41,14 @@ state_code: MN output: mn_exemptions: 10_400 + +- name: MN exemptions 2026 joint below threshold + period: 2026 + input: + filing_status: JOINT + tax_unit_dependents: 2 + adjusted_gross_income: 300_000 + state_code: MN + output: + # Tax Year 2026 Inflation-Adjusted Amounts, page 1: dependent exemption $5,300. + mn_exemptions: 2 * 5_300 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_social_security_subtraction.yaml b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_social_security_subtraction.yaml index 59c53198711..17cb6090594 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_social_security_subtraction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_social_security_subtraction.yaml @@ -94,3 +94,62 @@ state_code: MN output: mn_social_security_subtraction: 25_500 + +# 2026 amounts from the Minnesota DOR Tax Year 2026 Inflation-Adjusted Amounts, +# 290.0132 Subd. 26 (page 2): simplified subtraction phase-out thresholds of +# $110,780 (joint) and $86,410 (single), and an alternate subtraction maximum of +# $5,840 (joint) reduced by 20% of provisional income over $88,630, both "Not Indexed". +- name: MN social security subtraction 2026 joint alternate maximum is not indexed + period: 2026 + input: + filing_status: JOINT + taxable_social_security: 30_000 + adjusted_gross_income: 200_000 + state_code: MN + output: + # AGI is $89,220 over $110,780, so the simplified subtraction is reduced by + # 23 x 10% (capped at 100%) to $0. Provisional income is $0, so the + # alternate subtraction is the unreduced $5,840 maximum. + mn_social_security_subtraction: 5_840 + +- name: MN social security subtraction 2027 joint alternate maximum stays at $5,840 + period: 2027 + input: + filing_status: JOINT + taxable_social_security: 30_000 + adjusted_gross_income: 500_000 + state_code: MN + output: + # Subd. 26(j) indexes only the simplified phase-out thresholds. + mn_social_security_subtraction: 5_840 + +- name: MN social security subtraction 2026 joint alternate subtraction phase-out + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: JOINT + social_security: 100_000 + taxable_social_security: 85_000 + irs_gross_income: 150_000 + adjusted_gross_income: 150_000 + state_code: MN + output: + # Simplified: AGI is $39,220 over $110,780, so 10 x 10% = 100% reduction, $0. + # Provisional income = (150,000 - 85,000) + 50% x 100,000 = 115,000. + # Alternate = 5,840 - 20% x (115,000 - 88,630) = 5,840 - 5,274 = 566. + mn_social_security_subtraction: 566 + +- name: MN social security subtraction 2026 single at the simplified phase-out threshold + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: SINGLE + social_security: 40_000 + taxable_social_security: 20_000 + irs_gross_income: 86_410 + adjusted_gross_income: 86_410 + state_code: MN + output: + # AGI equals the $86,410 threshold, so the simplified subtraction is not + # reduced and the full $20,000 of taxable benefits is subtracted. + mn_social_security_subtraction: 20_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_standard_deduction.yaml b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_standard_deduction.yaml index 879bb66efa3..92e53f883a5 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_standard_deduction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_standard_deduction.yaml @@ -136,3 +136,29 @@ state_code: MN output: mn_standard_deduction: 14_950 + +# 2026 amounts from the Minnesota DOR Tax Year 2026 Inflation-Adjusted Amounts, +# page 1: standard deduction $15,300 single, $30,600 married joint; additional +# amount for aged or blind $1,600 married, $2,000 single or head of household. +- name: 2026 MN standard deduction single below the reduction threshold + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: SINGLE + aged_blind_count: 0 + adjusted_gross_income: 100_000 + state_code: MN + output: + mn_standard_deduction: 15_300 + +- name: 2026 MN standard deduction joint, both spouses aged + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: JOINT + aged_blind_count: 2 + adjusted_gross_income: 100_000 + state_code: MN + output: + # 30,600 + 2 * 1,600 = 33,800 + mn_standard_deduction: 33_800 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/income_tax/mo_income_tax_before_credits.yaml b/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/income_tax/mo_income_tax_before_credits.yaml index 5ec22e02e2b..72fd515e064 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/income_tax/mo_income_tax_before_credits.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/income_tax/mo_income_tax_before_credits.yaml @@ -88,3 +88,28 @@ state_code: MO output: mo_income_tax_before_credits: 2_290.77 + +# 2026 Form MO-1040ES Tax Rate Chart (page 2): brackets start at $1,348, +# $2,696, $4,044, $5,392, $6,740, $8,088 and $9,436; 4.7% over $9,436. +# The chart rounds the base amounts to whole dollars ($27, $263); the model +# applies each rate to the bracket width of $1,348. +- name: $4,000 MO taxable income in 2026 (MO-1040ES Example 1) + period: 2026 + absolute_error_margin: 0.01 + input: + mo_taxable_income: 4_000 + state_code: MO + output: + # 2% x 1,348 + 2.5% x (4,000 - 2,696) = 26.96 + 32.60 + mo_income_tax_before_credits: 0.02 * 1_348 + 0.025 * (4_000 - 2_696) + +- name: $12,300 MO taxable income in 2026 (MO-1040ES Example 2) + period: 2026 + absolute_error_margin: 0.01 + input: + mo_taxable_income: 12_300 + state_code: MO + output: + # (2% + 2.5% + 3% + 3.5% + 4% + 4.5%) x 1,348 + 4.7% x (12,300 - 9,436) + # = 262.86 + 134.61 (the chart shows $263 + $134.61 = $397.61) + mo_income_tax_before_credits: 0.195 * 1_348 + 0.047 * (12_300 - 9_436) diff --git a/policyengine_us/tests/policy/baseline/gov/states/ne/tax/income/deductions/ne_standard_deduction.yaml b/policyengine_us/tests/policy/baseline/gov/states/ne/tax/income/deductions/ne_standard_deduction.yaml index b18735de4e1..86c31b79f36 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/ne/tax/income/deductions/ne_standard_deduction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/ne/tax/income/deductions/ne_standard_deduction.yaml @@ -62,3 +62,34 @@ state_code: NE output: ne_standard_deduction: 10_600 # 8_600 + 2_000 * 1 + +# 2026 Form 1040N-ES: worksheet line 5 (page 4) gives $8,850 single and +# separate, $17,700 joint, $12,950 head of household; page 5 gives the +# additional amount of $2,050 (unmarried) and $1,700 (married or qualifying +# surviving spouse) for each 65-or-older or blind condition. +- name: 2026 single filer + period: 2026 + input: + filing_status: SINGLE + aged_blind_count: 0 + state_code: NE + output: + ne_standard_deduction: 8_850 + +- name: 2026 head of household, aged + period: 2026 + input: + filing_status: HEAD_OF_HOUSEHOLD + aged_blind_count: 1 + state_code: NE + output: + ne_standard_deduction: 15_000 # 12_950 + 2_050 * 1 + +- name: 2026 joint filers, both aged + period: 2026 + input: + filing_status: JOINT + aged_blind_count: 2 + state_code: NE + output: + ne_standard_deduction: 21_100 # 17_700 + 1_700 * 2 diff --git a/policyengine_us/tests/policy/baseline/gov/states/ne/tax/income/exemptions/ne_exemptions.yaml b/policyengine_us/tests/policy/baseline/gov/states/ne/tax/income/exemptions/ne_exemptions.yaml index a7d88bd76ad..6310523fca7 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/ne/tax/income/exemptions/ne_exemptions.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/ne/tax/income/exemptions/ne_exemptions.yaml @@ -13,3 +13,12 @@ state_code: NE output: ne_exemptions: 146 * 2 + +- name: Four exemptions in 2026 + period: 2026 + input: + tax_unit_size: 4 + state_code: NE + output: + # 2026 Form 1040N-ES, page 6: "Include $176 for each Nebraska personal exemption". + ne_exemptions: 176 * 4 diff --git a/policyengine_us/tests/policy/baseline/gov/states/or/tax/income/or_income_tax_before_credits.yaml b/policyengine_us/tests/policy/baseline/gov/states/or/tax/income/or_income_tax_before_credits.yaml index 1c550a4fefb..bf382e74cc6 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/or/tax/income/or_income_tax_before_credits.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/or/tax/income/or_income_tax_before_credits.yaml @@ -60,3 +60,41 @@ # 8.75% * ($14,100 - $10,200) = $332.5 # Total = $192.375 + $415.125 + $332.5 = $28,005.5 or_income_tax_before_credits: 940 + +# 2026 Publication OR-ESTIMATE (page 3), Chart S (single or married filing +# separately) and Chart J (married filing jointly, head of household, +# qualifying surviving spouse). The 2026 Withholding Tax Formulas use the +# same brackets. +- name: 2026 single filer with $20,000 taxable income + period: 2026 + absolute_error_margin: 0.01 + input: + state_code: OR + or_taxable_income: 20_000 + filing_status: SINGLE + output: + # Chart S: 4.75% to 4,550; 6.75% to 11,400; 8.75% to 125,000. + # 216.125 + 462.375 + 752.50 = 1,431 (the chart rounds the base to $678). + or_income_tax_before_credits: 0.0475 * 4_550 + 0.0675 * (11_400 - 4_550) + 0.0875 * (20_000 - 11_400) + +- name: 2026 joint filer with $30,000 taxable income + period: 2026 + absolute_error_margin: 0.01 + input: + state_code: OR + or_taxable_income: 30_000 + filing_status: JOINT + output: + # Chart J: $1,357 plus 8.75% of excess over $22,800 = 1,357 + 630 = 1,987. + or_income_tax_before_credits: 0.0475 * 9_100 + 0.0675 * (22_800 - 9_100) + 0.0875 * (30_000 - 22_800) + +- name: 2026 head of household filer with $15,000 taxable income + period: 2026 + absolute_error_margin: 0.01 + input: + state_code: OR + or_taxable_income: 15_000 + filing_status: HEAD_OF_HOUSEHOLD + output: + # Chart J: $432 plus 6.75% of excess over $9,100. + or_income_tax_before_credits: 0.0475 * 9_100 + 0.0675 * (15_000 - 9_100) diff --git a/policyengine_us/tests/policy/baseline/gov/states/or/tax/income/subtractions/or_federal_tax_liability_subtraction.yaml b/policyengine_us/tests/policy/baseline/gov/states/or/tax/income/subtractions/or_federal_tax_liability_subtraction.yaml index 28e7d2c322a..4e8190d3f01 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/or/tax/income/subtractions/or_federal_tax_liability_subtraction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/or/tax/income/subtractions/or_federal_tax_liability_subtraction.yaml @@ -74,3 +74,41 @@ eitc: 0 output: or_federal_tax_liability_subtraction: 0 + +# 2026: Publication OR-ESTIMATE (page 3) gives a federal tax subtraction of +# "$0 to $8,750"; the 2026 Withholding Tax Formulas (page 7) give the +# phase-out amounts 8,750 / 7,000 / 5,250 / 3,500 / 1,750 / 0. Married filing +# separately uses 50 percent of these amounts (ORS 316.680(3)(d)). +- name: 2026 single filer, capped at $8,750 + period: 2026 + input: + state_code: OR + filing_status: SINGLE + adjusted_gross_income: 80_000 + income_tax: 10_000 + eitc: 0 + output: + or_federal_tax_liability_subtraction: 8_750 + +- name: 2026 joint filer in the first phase-out step, capped at $7,000 + period: 2026 + input: + state_code: OR + filing_status: JOINT + adjusted_gross_income: 255_000 + income_tax: 30_000 + eitc: 0 + output: + or_federal_tax_liability_subtraction: 7_000 + +- name: 2026 separate filer, capped at $4,375 + period: 2026 + input: + state_code: OR + filing_status: SEPARATE + adjusted_gross_income: 80_000 + income_tax: 10_000 + eitc: 0 + output: + # 50% x 8,750 + or_federal_tax_liability_subtraction: 4_375 diff --git a/policyengine_us/tests/policy/baseline/gov/states/wi/tax/income/wi_standard_deduction.yaml b/policyengine_us/tests/policy/baseline/gov/states/wi/tax/income/wi_standard_deduction.yaml index 252219d1bec..24ec29f0189 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/wi/tax/income/wi_standard_deduction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/wi/tax/income/wi_standard_deduction.yaml @@ -37,3 +37,63 @@ state_code: WI output: wi_standard_deduction: 7_864.22 - 0.12 * 10_000 + +# 2026 Form 1-ES instructions, page 2, "2026 Standard Deduction" schedules. +- name: WI 2026 single standard deduction below the phase-out + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: SINGLE + wi_agi: 15_000 + state_code: WI + output: + # Single, Wisconsin income not over $20,119: $13,960. + wi_standard_deduction: 13_960 + +- name: WI 2026 joint standard deduction in the phase-out + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: JOINT + wi_agi: 50_000 + state_code: WI + output: + # Married filing jointly: 25,840 less 19.778% of the amount over $29,040. + wi_standard_deduction: 25_840 - 0.19778 * (50_000 - 29_040) + +- name: WI 2026 separate standard deduction in the phase-out + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: SEPARATE + wi_agi: 20_000 + state_code: WI + output: + # Married filing separately: 12,280 less 19.778% of the amount over $13,780. + wi_standard_deduction: 12_280 - 0.19778 * (20_000 - 13_780) + +- name: WI 2026 head of household standard deduction in the 22.515% phase-out + absolute_error_margin: 0.01 + period: 2026 + input: + filing_status: HEAD_OF_HOUSEHOLD + wi_agi: 30_000 + state_code: WI + output: + # Head of household, over $20,119 but not over $58,827: + # 18,030 less 22.515% of the amount over $20,120. + wi_standard_deduction: 18_030 - 0.22515 * (30_000 - 20_120) + +- name: WI 2026 head of household standard deduction in the 12% phase-out + absolute_error_margin: 0.05 + period: 2026 + input: + filing_status: HEAD_OF_HOUSEHOLD + wi_agi: 70_000 + state_code: WI + output: + # Head of household, over $58,827 but not over $136,453: + # 13,960 less 12% of the amount over $20,120. The model reaches the + # same amount through the 22.515% and 12% segments that meet at $58,827, + # within $0.05 of the schedule. + wi_standard_deduction: 13_960 - 0.12 * (70_000 - 20_120) diff --git a/policyengine_us/tests/policy/contrib/states/mn/hf4890/mn_hf4890.yaml b/policyengine_us/tests/policy/contrib/states/mn/hf4890/mn_hf4890.yaml index 6cf61723af9..8231047cf8f 100644 --- a/policyengine_us/tests/policy/contrib/states/mn/hf4890/mn_hf4890.yaml +++ b/policyengine_us/tests/policy/contrib/states/mn/hf4890/mn_hf4890.yaml @@ -69,7 +69,10 @@ mn_taxable_income: 700_000 state_code: MN output: - mn_basic_tax: 63_255.60 + # 2026 baseline single schedule (DOR Tax Year 2026 Inflation-Adjusted Amounts): + # 5.35% x 33,310 + 6.8% x (109,430 - 33,310) + 7.85% x (203,150 - 109,430) + # + 9.85% x (700,000 - 203,150) = 63,254.99 + mn_basic_tax: 63_254.99 # Zero income test - name: Minnesota HF4890 zero income produces zero tax