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  2. Tax Reform for Acceleration and Inclusion Law - Wikipedia

    en.wikipedia.org/wiki/Tax_Reform_for...

    The exemption for minimum wage earners is retained in the revised tax system. Tax rates for individual taxpayers still follow the progressive tax system [ 6 ] with the maximum rate of 35%, and minimum rates of 20% (taxable years 2018 to 2022) and 15% (2023 onwards).

  3. Tax policy and economic inequality in the United States

    en.wikipedia.org/wiki/Tax_policy_and_economic...

    If there's a discrepancy between the state and federal minimum wages, the higher wage takes precedence. As of August 2022, 30 states had a minimum wage higher than the federal minimum. [87] The minimum wage reduces inequality, particularly among the lowest earners (Engelhardt & Purcell, 2021; [88] Autor & Smith, 2016 [89]).

  4. Alternative minimum tax - Wikipedia

    en.wikipedia.org/wiki/Alternative_minimum_tax

    The alternative minimum tax (AMT) is a tax imposed by the United States federal government in addition to the regular income tax for certain individuals, estates, and trusts. As of tax year 2018, the AMT raises about $5.2 billion, or 0.4% of all federal income tax revenue, affecting 0.1% of taxpayers, mostly in the upper income ranges.

  5. What you need to know about the dreaded Alternative Minimum Tax

    www.aol.com/news/2010-03-19-what-you-need-to...

    The Alternative Minimum Tax (AMT) was introduced in 1969 as a way to ensure that extremely high-income taxpayers paid their fair share. For the 1967 tax year, just before the tax was first enacted ...

  6. Trump-Era Tax Cuts Are Expiring: 4 Ways This Impacts ... - AOL

    www.aol.com/trump-era-tax-cuts-expiring...

    The personal exemption of $5,300 will return, but the child tax credit will also be reduced from $2,000 per qualifying child to $1,000. The $500 credit for other dependents will disappear.

  7. How did California Paneras get minimum wage exemption ... - AOL

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  8. Tax Reform Act of 1969 - Wikipedia

    en.wikipedia.org/wiki/Tax_Reform_Act_of_1969

    The Tax Reform Act of 1969 (Pub. L. 91–172) was a United States federal tax law signed by President Richard Nixon in 1969. Its largest impact was creating the Alternative Minimum Tax, which was intended to tax high-income earners who had previously avoided incurring tax liability due to various exemptions and deductions.

  9. Why Is Panera Exempted From California's New Minimum Wage Law?

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