Adoption Assist taxable and exempt how does the taxes work ?
I need some help on understanding Adopt assist benefit program. For the year 2022 most of the states have state limit per adopted child max amount is $14,890. In some states its exempt and some states like Arkansas, Pennsylvania, Puerto Rico & Mississippi are taxable. What is expected outcome when it says exempt in some states what will happen to FIT ,SIT taxes and what should be the calculation for some states which is taxable?
Regards,
Shilpa