Income tax, optional standard deduction increased, adjusted gross income range allowed for maximum dependent exemption increased

HB 389 proposes changes to Alabama's individual income tax laws. The bill aims to reduce the income tax burden for residents and nonresidents by increasing the optional standard deduction. It also expands the adjusted gross income range within which taxpayers can claim the maximum optional standard deduction. Additionally, the bill broadens the adjusted gross income range for the maximum dependent exemption. These combined provisions are intended to raise the income threshold at which the state imposes individual income taxes.