This bill, for tax years beginning in or after 2025:
1. Adjusts the existing tax brackets for single individuals and married persons filing separately, heads of household and individuals filing joint returns and surviving spouses;
2. Adds 3 new higher income tax brackets; and
3. Imposes 3 new rates of tax for those higher brackets of 8.15%, 9.15% and 10.15%. As under current law, the income tax brackets are indexed to the Chained Consumer Price Index as published by the United States Department of Labor, Bureau of Labor Statistics.

Statutes affected:
Bill Text LD 1682, HP 1117: 36.5111, 36.5403