Individuals

For individuals, the changes include:

Increasing the standard deductions Single = $12,000 Head of Household = $18,000 Married Filing Jointly = $24,000

Eliminating the personal exemptions

Eliminating dependent exemptions

Eliminating or capping most itemized deductions

Changing the definitions for qualified expenses from a 529 Education Savings account to include K-12 and private schools

Creating a nonrefundable Idaho child tax credit of $130 per qualifying child. House Bill 675 subsequently increased the credit to $205.

Reducing the individual income tax rate 0.475%. The top rate for individuals is now 6.925%.