Amount of Deduction

4.1. For tax years beginning after December 31, 1996:

4.1.1. Individual taxpayers: $10,000.00;

4.1.2. Married taxpayers filing jointly: $10,000.00; and

4.1.3. Married taxpayers filing separately: $5,000.00 for each spouse who qualifies as an eligible taxpayer.

4.2. For the tax year beginning January 1, 1996, eligible taxpayers may only deduct earned income received after June 30, 1996, from federal adjusted gross income to the extent it is included in federal adjusted gross income, as follows:

4.2.1. Individuals: $5,000.00;

4.2.2. Married individuals filing jointly: $5,000.00; and

4.2.3. Married individuals filing separately: $2,500.00 for each spouse who qualifies as an eligible taxpayer.