Annual adjustments for inflation

1. Individual income tax rate tables. For the tax rate tables in section 5111 : 2. Standard deductions. In 2025 and each year thereafter, by the dollar amount contained in section 5124-C, subsection 1-B, paragraph A , subparagraph (1), except that for the purposes of this subsection, notwithstanding section 5402, subsection 1-B , the "cost- of-living adjustment" is the Chained Consumer Price Index for the 12-month period ending June 30th of the preceding calendar year divided by the Chained Consumer Price Index for the 12-month period ending June 30, 2017; 3. Itemized deductions. By the dollar amount of the itemized deduction limitation amount in section 5125, subsection 4 ; 4. Individual income tax standard deduction and itemized deduction phase-out. Beginning in 2018 and each year thereafter, by the dollar amount contained in the numerator of the fraction specified in section 5124-C, subsection 2, paragraphs A , B and C and section 5125, subsection 7, paragraphs A , B and C , except that for the purposes of this subsection, notwithstanding section 5402, subsection 1-B , the "cost-of-living adjustment" is the Chained Consumer Price Index for the 12-month period ending June 30th of the preceding calendar year divided by the Chained Consumer Price Index for the 12-month period ending June 30, 2017; 5. Sales tax fairness credit. For the sales tax fairness credit: 6. Property tax fairness credit. For the property tax fairness credit: 7. Personal exemptions. Beginning in 2018 and each year thereafter, by the dollar amounts contained in section 5126-A, subsection 1 , except that for the purposes of this subsection, notwithstanding section 5402, subsection 1-B , the "cost-of-living adjustment" is the Chained Consumer Price Index for the 12-month period ending June 30th of the preceding calendar year divided by the Chained Consumer Price Index for the 12-month period ending June 30, 2017; 8. Personal exemption phase-out. Beginning in 2018 and each year thereafter, by the dollar amount of the applicable amounts specified in section 5126-A, subsection 2, paragraphs A , B and C , except that for the purposes of this subsection, notwithstanding section 5402, subsection 1-B , the "cost-of-living adjustment" is the Chained Consumer Price Index for the 12-month period ending June 30th of the preceding calendar year divided by the Chained Consumer Price Index for the 12-month period ending June 30, 2017; 9. Dependent exemption tax credit amount. Beginning in 2024 and each year thereafter, by the dollar amount of the dependent exemption tax credit under section 5219-SS , except that for the purposes of this subsection, notwithstanding section 5402, subsection 1-B , the "cost-of-living adjustment" is the Chained Consumer Price Index for the 12-month period ending June 30th of the preceding calendar year divided by the Chained Consumer Price Index for the 12-month period ending June 30, 2023. If the credit amount, adjusted by application of the cost-of-living adjustment, is not a multiple of $5, any increase must be rounded to the next lowest multiple of $5; 10. Dependent exemption phase-out. Beginning in 2025 and each year thereafter, by the dollar amount of the applicable amounts specified in section 5219-SS, subsection 4, paragraphs A , B and C , except that, for the purposes of this subsection, notwithstanding section 5402, subsection 1-B , the "cost-of-living adjustment" is the Chained Consumer Price Index for the 12-month period ending June 30th of the preceding calendar year divided by the Chained Consumer Price Index for the 12-month period ending June 30, 2024; and 11. (REALLOCATED FROM T. 36, §5403, sub-§10) Income deduction for retirement plan benefits; applicable amount. Beginning in 2025 and each year thereafter, by the dollar amount of the applicable amounts specified in section 5122, subsection 2, paragraph M-3 , except that for the purposes of this subsection, notwithstanding section 5402, subsection 1-B , the "cost-of-living adjustment" is the Chained Consumer Price Index for the 12-month period ending June 30th of the preceding calendar year divided by the Chained Consumer Price Index for the 12-month period ending June 30, 2024.