policyengine-us 1.387.1__py3-none-any.whl → 1.387.3__py3-none-any.whl

policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_joint.yaml

@@ -2,6 +2,7 @@
   period: 2024
   input:
     long_term_capital_gains: 1_000
+    mt_taxable_income_joint: 1_000
     mt_capital_gains_tax_applicable_threshold_joint: 0
     filing_status: SINGLE
     state_code: MT
@@ -12,6 +13,7 @@
   period: 2024
   input:
     long_term_capital_gains: 1_000
+    mt_taxable_income_joint: 1_000
     mt_capital_gains_tax_applicable_threshold_joint: 2_000
     filing_status: SEPARATE
     state_code: MT
@@ -23,6 +25,7 @@
   period: 2024
   input:
     long_term_capital_gains: 3_000
+    mt_taxable_income_joint: 3_000
     mt_capital_gains_tax_applicable_threshold_joint: 2_000
     filing_status: SEPARATE
     state_code: MT
@@ -33,8 +36,42 @@
   period: 2023
   input:
     long_term_capital_gains: 3_000
+    mt_taxable_income_joint: 3_000
     mt_capital_gains_tax_applicable_threshold_joint: 2_000
     filing_status: JOINT
     state_code: MT
   output:
     mt_capital_gains_tax_joint: 0 
+
+- name: Taxable income below LTCG and below higher rate threshold
+  period: 2024
+  input:
+    long_term_capital_gains: 3_000
+    mt_taxable_income_joint: 1_000
+    mt_capital_gains_tax_applicable_threshold_joint: 2_000
+    filing_status: JOINT
+    state_code: MT
+  output:
+    mt_capital_gains_tax_joint: 30
+
+- name: Taxable income below LTCG and above higher rate threshold
+  period: 2024
+  input:
+    long_term_capital_gains: 10_000
+    mt_taxable_income_joint: 3_000
+    mt_capital_gains_tax_applicable_threshold_joint: 2_000
+    filing_status: JOINT
+    state_code: MT
+  output:
+    mt_capital_gains_tax_joint: 101
+
+- name: Taxable above above LTCG and above higher rate threshold
+  period: 2024
+  input:
+    long_term_capital_gains: 10_000
+    mt_taxable_income_joint: 12_000
+    mt_capital_gains_tax_applicable_threshold_joint: 2_000
+    filing_status: JOINT
+    state_code: MT
+  output:
+    mt_capital_gains_tax_joint: 410

policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/integration.yaml

@@ -252,3 +252,41 @@
   output:
     mt_files_separately: false
     mt_income_tax: 76_963
+
+- name: taxsim_record_29826_2024.yaml
+  absolute_error_margin: 2
+  period: 2024
+  input:
+    people:
+      person1:
+        age: 77
+        employment_income: 0.0
+        qualified_dividend_income: 1804.41835
+        long_term_capital_gains: 19594.1835
+        taxable_interest_income: 1242.1687
+        is_tax_unit_head: true
+      person2:
+        age: 77
+        employment_income: 0.0
+        qualified_dividend_income: 1804.41835
+        long_term_capital_gains: 19594.1835
+        taxable_interest_income: 1242.1687
+        is_tax_unit_spouse: true
+    tax_units:
+      tax_unit:
+        members: [person1, person2]
+        premium_tax_credit: 0
+        local_income_tax: 0
+        state_sales_tax: 0
+    spm_units:
+      spm_unit:
+        members: [person1, person2]
+        snap: 0
+        tanf: 0
+    households:
+      household:
+        members: [person1, person2]
+        state_fips: 30
+  output:
+    mt_capital_gains_tax_joint: [59, 0]
+    mt_income_tax: 59

policyengine_us/variables/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_joint.py

@@ -14,8 +14,22 @@ class mt_capital_gains_tax_joint(Variable):
         p = parameters(period).gov.states.mt.tax.income.main.capital_gains
         # the tax for capital gains comes into effect after 2024
         if p.in_effect:
+            # Line instructions from the 2024 Montana Individual Income Tax Return Form 2
+            # https://revenue.mt.gov/files/Forms/Montana-Individual-Income-Tax-Return-Form-2/2024_Montana_Individual_Income_Tax_Return_Form_2.pdf#page=2
+            # Line 1
+            taxable_income = person("mt_taxable_income_joint", period)
+            # Line 2
             capital_gains = person("long_term_capital_gains", period)
+            # Line 3
+            lesser_of_cg_and_taxable_income = min_(
+                capital_gains, taxable_income
+            )
+            # Line 4
+            excess_over_taxable_income = max_(
+                taxable_income - lesser_of_cg_and_taxable_income, 0
+            )
             filing_status = person.tax_unit("filing_status", period)
+            # Line 5
             applicable_threshold = person(
                 "mt_capital_gains_tax_applicable_threshold_joint", period
             )
@@ -53,21 +67,25 @@ class mt_capital_gains_tax_joint(Variable):
                     p.rates.head_of_household.amounts[-1],
                 ],
             )
-            # Calculate taxes
-            capital_gains_below_threshold = min_(
-                applicable_threshold, capital_gains
+            # Line 6
+            excess_over_threshold = max_(
+                applicable_threshold - excess_over_taxable_income, 0
             )
-            capital_gains_above_threshold = max_(
-                capital_gains - applicable_threshold, 0
+            # Line 7
+            capital_gains_below_threshold = min_(
+                excess_over_threshold, lesser_of_cg_and_taxable_income
             )
-
+            # Line 8
             lower_capital_gains_tax = (
                 capital_gains_below_threshold * lower_rate
             )
-            higher_capital_gains_tax = (
-                capital_gains_above_threshold * higher_rate
+            # Line 9
+            income_above_threshold = max_(
+                lesser_of_cg_and_taxable_income - excess_over_threshold, 0
             )
-
+            # Line 10
+            higher_capital_gains_tax = income_above_threshold * higher_rate
+            # Line 11
             return lower_capital_gains_tax + higher_capital_gains_tax
 
         return 0

{policyengine_us-1.387.1.dist-info → policyengine_us-1.387.3.dist-info}/METADATA

@@ -1,6 +1,6 @@
 Metadata-Version: 2.4
 Name: policyengine-us
-Version: 1.387.1
+Version: 1.387.3
 Summary: Add your description here.
 Author-email: PolicyEngine <hello@policyengine.org>
 License-File: LICENSE

{policyengine_us-1.387.1.dist-info → policyengine_us-1.387.3.dist-info}/RECORD

@@ -4470,7 +4470,7 @@ policyengine_us/tests/policy/baseline/gov/states/ms/tax/income/exemptions/ms_dep
 policyengine_us/tests/policy/baseline/gov/states/ms/tax/income/exemptions/ms_regular_exemption.yaml,sha256=eRXW1ftjSMnYHaX4tkJjevd2Y9VekXizaAMlLIHRfBI,817
 policyengine_us/tests/policy/baseline/gov/states/ms/tax/income/exemptions/ms_total_exemptions_indiv.yaml,sha256=3XJ-RUERhQ5C5-6oId-arGtjbRogEmBuYxWxs37P3Q0,450
 policyengine_us/tests/policy/baseline/gov/states/ms/tax/income/exemptions/ms_total_exemptions_joint.yaml,sha256=XMlfs06wLIxWnDLg7mk8Njh1lt05vVUC0wkbpeDlqno,428
-policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/integration.yaml,sha256=St9ghv7FUsAcs7jar-UercNUrPyatgOSFLbJ2PsZ4a0,6494
+policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/integration.yaml,sha256=gA11ti79fHrpQcyoYiCBJIMrwTlaByF0HD9MIr8LT-o,7465
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/mt_agi.yaml,sha256=1o4BhamZL4Fh9S_d86ObNITwmSYxb6szyi4h0ga6QdM,2015
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/mt_applicable_ald_deductions.yaml,sha256=csbfWJXij9KI2MjAuo-IE9mGz2EKiWfCibjPL92RK0k,975
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/mt_files_separately.yaml,sha256=UfK24SNJkiAjRMhtWG9UUqZo7VIXyfhtZ42UTJiIJoA,1221
@@ -4490,7 +4490,7 @@ policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/mt_withheld_incom
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_applicable_threshold_indiv.yaml,sha256=Fx3AkCPiCstVZKJUHvUnry4kKccTnoPnZBEwtmQ2T2Y,891
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_applicable_threshold_joint.yaml,sha256=0fjuquAsV22W4FyGz7cqxLBXP_qGTm4TRO-I5pjsuxc,971
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_indiv.yaml,sha256=2Ps224S6zapd9gsJb1cDaTu65GNNJGAzfDsqW96vWhk,892
-policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_joint.yaml,sha256=4LlyvnDvIe_JIvrdIEeJbX7vSDIagM5A0fl4qjye2I0,973
+policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_joint.yaml,sha256=bMlxdc1ErMfL3tv1lImcWjyntpiMRIj2cpRjUH2KtV4,2044
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/credits/mt_capital_gain_credit.yaml,sha256=0rYQmOF27fcRN6bujop4dE0y1osdWx1CAcWx9gynVdY,303
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/credits/mt_eitc.yaml,sha256=8f_7w5hADYpq6S1AplpchLUyf7mrhHmFgAuff241qTU,860
 policyengine_us/tests/policy/baseline/gov/states/mt/tax/income/credits/elderly_homeowner_or_renter/mt_elderly_homeowner_or_renter_credit.yaml,sha256=9hu9upDL76IB6j49k_CuB-Q9u5Q6BXoqrIy2NFoCcFo,4258
@@ -7041,7 +7041,7 @@ policyengine_us/variables/gov/states/mt/tax/income/base/mt_withheld_income_tax.p
 policyengine_us/variables/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_applicable_threshold_indiv.py,sha256=ghk5F7Mlfxrdeufnp8GDeJaSILV6xCW1DMxLIdk-1zY,1598
 policyengine_us/variables/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_applicable_threshold_joint.py,sha256=mt2iuukSnk6pynWyo9wZDGCwvBESJMaaR8mlHkBxQ60,1638
 policyengine_us/variables/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_indiv.py,sha256=vqqCb4j3OlQhXw3-_0sidLh9LBqc06HEi7MAFvZE_vE,2795
-policyengine_us/variables/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_joint.py,sha256=HCyBCTJTkr5h4BN0nOmNDn2OF-4fpImLVqhMV-06vUE,2890
+policyengine_us/variables/gov/states/mt/tax/income/capital_gains/mt_capital_gains_tax_joint.py,sha256=cNed-vQvUJXDrqd8xXlG9pVtPrykK6GpoaQoNsAjLuw,3763
 policyengine_us/variables/gov/states/mt/tax/income/credits/capital_gain/mt_capital_gain_credit.py,sha256=FQ-be8ndCvh5IKnztkQQ7ARsHWFwbN41AZO0LCFyKsA,601
 policyengine_us/variables/gov/states/mt/tax/income/credits/eitc/mt_eitc.py,sha256=zZEXyPRJCaJ8LimfDXEo58n5hI5m1DtpgO8cSQ1e9SA,908
 policyengine_us/variables/gov/states/mt/tax/income/credits/mt_elderly_homeowner_or_renter/mt_elderly_homeowner_or_renter_credit.py,sha256=F9kVR24wocnjTkFU99SprMlnRiJDK1eOIKI6RodnV5I,1514
@@ -8318,8 +8318,8 @@ policyengine_us/variables/input/farm_income.py,sha256=BEKxYmHNNnWJAAvULl5qZJigy5
 policyengine_us/variables/input/geography.py,sha256=Ux0ueAf0rhZaflyEqz81UuXP3xKCKBDvoO3CrKhiQEc,5421
 policyengine_us/variables/input/self_employment_income.py,sha256=PwsGz8R4lRikKWUYOhsC0qosNNLXq4f5SQmfw4S3mk8,511
 policyengine_us/variables/input/self_employment_income_before_lsr.py,sha256=E8fcX9Nlyqz8dziHhQv_euutdmoIwFMMWePUwbbwv_w,379
-policyengine_us-1.387.1.dist-info/METADATA,sha256=RyvgRXSNgO24yzTmOUqs9ZrLdzXYwzo1ni3gn83cfNc,1649
-policyengine_us-1.387.1.dist-info/WHEEL,sha256=qtCwoSJWgHk21S1Kb4ihdzI2rlJ1ZKaIurTj_ngOhyQ,87
-policyengine_us-1.387.1.dist-info/entry_points.txt,sha256=MLaqNyNTbReALyKNkde85VkuFFpdPWAcy8VRG1mjczc,57
-policyengine_us-1.387.1.dist-info/licenses/LICENSE,sha256=2N5ReRelkdqkR9a-KP-y-shmcD5P62XoYiG-miLTAzo,34519
-policyengine_us-1.387.1.dist-info/RECORD,,
+policyengine_us-1.387.3.dist-info/METADATA,sha256=5NvqpiJPHutEoJocz25lk7F4I3B1c_YA8x1sDs56Dcg,1649
+policyengine_us-1.387.3.dist-info/WHEEL,sha256=qtCwoSJWgHk21S1Kb4ihdzI2rlJ1ZKaIurTj_ngOhyQ,87
+policyengine_us-1.387.3.dist-info/entry_points.txt,sha256=MLaqNyNTbReALyKNkde85VkuFFpdPWAcy8VRG1mjczc,57
+policyengine_us-1.387.3.dist-info/licenses/LICENSE,sha256=2N5ReRelkdqkR9a-KP-y-shmcD5P62XoYiG-miLTAzo,34519
+policyengine_us-1.387.3.dist-info/RECORD,,