D.C. Income and Franchise Tax Conformity and Revision Emergency Amendment Act of 2025

This bill amends the District of Columbia's income and franchise tax laws, primarily by changing how standard and itemized deductions are calculated for individuals, estates, and trusts. It sets new basic standard deduction amounts for tax year 2025 and beyond, which will be adjusted annually for cost of living. The bill also modifies how certain business expenses, interest, and depreciation are deducted for corporations, financial institutions, unincorporated businesses, and partnerships, and alters provisions related to Qualified Opportunity Fund capital gains.

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