2015 State Income Tax Rate Schedules Adjusted

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For Immediate Release

09.03.2015

Sacramento — The Franchise Tax Board (FTB) today released the 2015 state tax brackets. Brackets are “indexed” each year by adjusting them to reflect changes in the California Consumer Price Index (CPI).

Filing requirement thresholds, the standard deduction, and certain credits were adjusted along with income tax brackets based on the inflation rate of 1.3 percent, as measured by the California CPI for all urban consumers from June 2014 to June 2015. Last year, California had an inflation rate that measured 2.2 percent.

Below are some of the changes:

Filing Status 2015 Amounts 2014 Amounts
Standard deduction for single or married filing separate taxpayers $4,044 $3,992
Standard deduction for joint, surviving spouse, or head of household taxpayers $8,088 $7,984
Personal exemption credit amount for single, separate, and head of household taxpayers $109 $108
Personal exemption credit amount for joint filers or surviving spouses $218 $216
Dependent exemption credit $337 $333
Renter’s Credit is available for single filers with adjusted gross incomes of $38,259 or less $37,768 or less
Renter’s Credit is available for joint filers with adjusted gross incomes of $76,518 or less $75,536 or less

In addition, FTB provides minimum filing requirement thresholds to ensure that most people who will not owe taxes do not file a state tax return. FTB adjusts these tables each year to include the added senior exemption and the dependent exemption credits. For example, most single people under 65 years old with no dependents would not need to file a tax return until they have adjusted gross income of $13,005 or more compared to last year’s threshold of $12,838 or more. However, if these individuals had state income tax withheld or made estimated tax payments, they do need to file to receive their refunds. In addition, some of these taxpayers may qualify for California’s new earned income tax credit and need to file a return to claim that refundable credit. For more information on this new refundable credit, check FTB’s EITC webpage, which is updated as new information becomes available.

Other tax credits affected by indexing include the Joint Custody Head of Household Credit, Dependent Parent Credit, and Qualified Senior Head of Household Credit.

The complete 2015 tax rates and exemptions are available on FTB’s website ftb.ca.gov.

Editor’s note: Please contact us for more details about the 2015 tax rate schedules and other amounts if you need them immediately.

FTB administers two of California's major tax programs: Personal Income Tax and the Corporation Tax. FTB also administers other non tax programs and delinquent debt collection functions, including delinquent vehicle registration debt collections on behalf of the Department of Motor Vehicles, and court–ordered debt. Annually, FTB’s tax programs collect more than 70 percent of the state’s general fund.

For more information on other taxes and fees in California, visit: taxes.ca.gov.

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