59-10-104.1. Exemption from taxation.
(1) For purposes of this section: "Modified adjusted gross income" means the amount calculated by: adding the individual's adjusted gross income on the individual's federal individual income tax return for the taxable year and any additions required by Sectionfor the taxable year; and 59-10-114 subtracting from the amount calculated in accordance with Subsection, any subtractions required by Sectionfor the taxable year. (1)(a)(i) 59-10-114 "Personal exemptions" means the total exemption amount an individual is allowed to claim for the taxable year under Section 151, Internal Revenue Code, for: the individual; the individual's spouse; and the individual's dependents. "Standard deduction": means the standard deduction an individual is allowed to claim for the taxable year under Section 63, Internal Revenue Code; and notwithstanding Subsection, does not include an additional amount allowed under Section 63(f), Internal Revenue Code, for an individual or an individual's spouse who is: (1)(c)(i) blind; or 65 years of age or older.
(2) An individual is exempt from a tax imposed by Sectionorif the individual's modified adjusted gross income is less than or equal to the sum of the individual's: 59-10-104 59-10-116 personal exemptions for that taxable year; and standard deduction for that taxable year.