Delaware SB299 amends personal income tax credits for overtime income under the Federal Fair Labor Standards Act.
Delaware SB299 amends Title 30 of the Delaware Code to allow a credit of $15,000 on income derived from overtime paid under the Federal Fair Labor Standards Act for hours worked in excess of 40 in a week. The credit phases out for modified adjusted gross income exceeding $125,000 for single filers and $250,000 for joint filers, and is fully phased out at $150,000 for single filers and $300,000 for joint filers.
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