AB 2591: Personal income tax: standard deduction: federal poverty level.

This bill would amend the personal income tax law to allow taxpayers to elect a standard deduction equal to the federal poverty level for households of one, two, three, four, or five members, as adjusted for inflation. The standard deduction would replace the existing standard deduction amounts of $11,412 for heads of household and $5,706 for other individuals. The bill would take effect immediately as a tax levy, allowing taxpayers to choose this new standard deduction starting with the 2027 tax year.