Income taxes that Californians will pay this year should be a little less depending on their income. The State Franchise Tax Board (FTB) has issued its 2016 tax brackets which are annually adjusted for inflation. Last year, California had an inflation rate of 1.3 percent.
Among the changes are the standard tax deduction and the personal exemption credit. 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 FTB also updated the minimum filing used to determine whether or not taxpayers must file a state tax return.