SB 312 adjusts tax obligations and credits based on specific circumstances, providing deductions, exemptions, and tax relief for certain groups:

• Women with dependents – Increases tax deductions for women ages 25-29 who claim a dependent.
• Newly married couples – Grants a one-time tax deduction for couples who were married in the current or previous tax year.
• Married couples – Expands tax exemptions for jointly filing couples.
• Families with dependents – Provides a $5,000 tax exemption per dependent.
• Mothers with four or more dependents – Eliminates state income tax for mothers who give birth to, adopt, or become the legal guardian of at least four children before age 13, as long as they claim them as dependents until age 18. If filing jointly, their spouse’s income is also exempt.
• Workers under 25 – Exempts all earned income from state taxes for individuals under age 25.