HB1965
Income tax, state; deduction for tips and overtime compensation.
Summary
As Introduced. Income tax deduction; tips and overtime compensation.
Provides, for taxable years beginning on and after January 1, 2026, an income tax deduction for the amount of tips received during the taxable year that are included on statements furnished to the employer for federal tax purposes. The bill also establishes, for taxable years beginning on and after January ... (More) 1, 2026, an income tax deduction for any overtime compensation, defined in the bill, received by an employee who is not exempt from overtime compensation rules pursuant to the federal Fair Labor Standards Act. (Less)-
Bill History
- 01/06/2025 - House: Prefiled and ordered printed; Offered 01-13-2025 25102486D
- 01/06/2025 - House: Referred to Committee on Finance
- 01/18/2025 - House: Impact statement from TAX (HB1965)
- 01/24/2025 - House: Assigned Finance sub: Subcommittee #3
- 01/25/2025 - House: Placed on Finance Agenda
- 02/04/2025 - House: Left in Finance
