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Nebraska Military Retirement Benefit Exclusion 2022
Fixes PolicyEngine#5011
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...us/parameters/gov/states/ne/tax/income/agi/subtractions/military_retirement/fraction.yaml
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description: Fraction of military retirement benefits allowed as NE AGI subtraction when federal AGI is above threshold (fraction is 1.0 for others). | ||
values: | ||
2022-01-01: 1 | ||
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metadata: | ||
label: fraction of military retirement benefits allowed as NE AGI subtraction when federal AGI is above threshold (fraction is 1.0 for others) | ||
unit: /1 | ||
period: year | ||
reference: | ||
- title: 2022 NE income tax form and instruction booklet | ||
href: https://revenue.nebraska.gov/sites/revenue.nebraska.gov/files/doc/2022_Ne_Individual_Income_Tax_Booklet_8-307-2022_final_8.pdf#page=3 | ||
- title: Legislative Bill 387 | ||
href: https://revenue.nebraska.gov/sites/revenue.nebraska.gov/files/doc/info/legislation/2021/LB387.pdf |
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...ne/gov/states/ne/tax/income/adjusted_gross_income/ne_military_retirement_subtraction.yaml
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- name: Test 1, less than agi, for 2022 | ||
absolute_error_margin: 0.01 | ||
period: 2022 | ||
input: | ||
adjusted_gross_income: 200_000 | ||
military_retirement_pay: 30_000 | ||
state_code: NE | ||
output: | ||
ne_military_retirement_subtraction: 30_000 | ||
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- name: Test 2, more than agi, for 2022 | ||
absolute_error_margin: 0.01 | ||
period: 2022 | ||
input: | ||
adjusted_gross_income: 20_000 | ||
military_retirement_pay: 30_000 | ||
state_code: NE | ||
output: | ||
ne_military_retirement_subtraction: 20_000 |
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...s/ne/tax/income/adjusted_gross_income/subtractions/ne_military_retirement_substraction.py
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from policyengine_us.model_api import * | ||
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class ne_military_retirement_subtraction(Variable): | ||
value_type = float | ||
entity = TaxUnit | ||
label = "Nebraska military retirement subtraction" | ||
unit = USD | ||
definition_period = YEAR | ||
defined_for = StateCode.NE | ||
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def formula(tax_unit, period, parameters): | ||
fagi = tax_unit("adjusted_gross_income", period) | ||
p = parameters( | ||
period | ||
).gov.states.ne.tax.income.agi.subtractions.military_retirement | ||
military_retirement_benefits = add( | ||
tax_unit, period, ["military_retirement_pay"] | ||
) | ||
return min_(military_retirement_benefits * p.fraction, fagi) |