TAX CHANGES FOR 2016
2016 STANDARD MILEAGE RATES
54 cents per mile for business miles driven
19 cents per mile for medical or moving miles driven
14 cents per mile driven for charitable purposes
The 2016 PERMANENT FUND DIVIDEND was $1,022. If the dividend was the only income for your child, then they will not pay any tax for 2016. If they have other income (W-2 wages, interest on savings accounts or investment income), they may have to pay taxes depending on their total income. Their income can be included on the parents' return or can be filed on a separate return.
Alaska's minimum wage went up to $9.75 an hour effective January 1, 2016. It will be adjusted every year after that for inflation with the new rate being effective on January 1 of each year.