What's new for filing 2012 tax returns.
| Position | FTB news |
* Tax Rate Increase: For taxable years beginning on or after Jan. 1, 2012, the maximum personal income tax rate is 12.3 percent.
* Standard Deductions: The standard deductions amount for single or separate taxpayers increased from $3,769 to $3,841 for tax year 2012. For joint, surviving spouse/ROP, or head of household taxpayers, the standard deduction increased from $7,538 to $7,682 for tax year 2012.
* Personal Exemptions: The personal exemption amount for single, separate and head of household taxpayers increased from $102 to $104...
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