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New Minnesota 2023 working family credit logic

Open PavelMakarchuk opened this issue 1 year ago • 1 comments

The program was adjusted in 2023 and needs structural logic changes

2023 tax form

2021 form

Legal code

PavelMakarchuk avatar May 13 '24 23:05 PavelMakarchuk

@PavelMakarchuk plz check the WFC "tree", let me know if all good and I can work on the variable

Calculation Summary: WFC = min (earned income, upper limit) * 4% + QOC credit - (earned income - phase out threshold) * 9%

Parameters:

  1. upper limit ($8750)
  2. WFC rate (4%)
  3. Qualified Older Children (QOC) age: 18 to 23
  4. QOC credit: $915/2100/2500 for 1/2/more children
  5. phase out threshold: $35000 for joint filing and $29500 for others
  6. phase out rate (9%)

shuyu7zhan avatar May 14 '24 21:05 shuyu7zhan

@PavelMakarchuk plz check the WFC "tree", let me know if all good and I can work on the variable

Calculation Summary: WFC = min (earned income, upper limit) * 4% + QOC credit - (earned income - phase out threshold) * 9%

Parameters:

  1. upper limit ($8750)
  2. WFC rate (4%)
  3. Qualified Older Children (QOC) age: 18 to 23
  4. QOC credit: $915/2100/2500 for 1/2/more children
  5. phase out threshold: $35000 for joint filing and $29500 for others
  6. phase out rate (9%)

Looks good to me, what do we already have and what do we need to add?

PavelMakarchuk avatar May 17 '24 00:05 PavelMakarchuk

@PavelMakarchuk plz check the WFC "tree", let me know if all good and I can work on the variable Calculation Summary: WFC = min (earned income, upper limit) * 4% + QOC credit - (earned income - phase out threshold) * 9% Parameters:

  1. upper limit ($8750)
  2. WFC rate (4%)
  3. Qualified Older Children (QOC) age: 18 to 23
  4. QOC credit: $915/2100/2500 for 1/2/more children
  5. phase out threshold: $35000 for joint filing and $29500 for others
  6. phase out rate (9%)

Looks good to me, what do we already have and what do we need to add?

need to add every parameter I list above, and rewrite mn_wfc.py

shuyu7zhan avatar May 17 '24 01:05 shuyu7zhan

@PavelMakarchuk plz check the WFC "tree", let me know if all good and I can work on the variable Calculation Summary: WFC = min (earned income, upper limit) * 4% + QOC credit - (earned income - phase out threshold) * 9% Parameters:

  1. upper limit ($8750)
  2. WFC rate (4%)
  3. Qualified Older Children (QOC) age: 18 to 23
  4. QOC credit: $915/2100/2500 for 1/2/more children
  5. phase out threshold: $35000 for joint filing and $29500 for others
  6. phase out rate (9%)

Looks good to me, what do we already have and what do we need to add?

need to add every parameter I list above, and rewrite mn_wfc.py

LGTM then, we can get started

PavelMakarchuk avatar May 31 '24 12:05 PavelMakarchuk