Illinois SB0174 amends the Illinois Income Tax Act to create a deduction for overtime wages paid to taxpayers.

Illinois SB0174 amends the Illinois Income Tax Act by introducing a deduction for any overtime wages paid to taxpayers during the taxable year. This deduction applies to wages paid at regular or overtime rates, in excess of the taxpayer's regular and normal monthly or weekly salary. The bill specifies that the deduction is effective immediately upon becoming law. It also includes provisions for certain exceptions and limitations, ensuring that the deduction does not apply to all types of income or expenses.

Illinois SB0174 amends the Illinois Income Tax Act to create a deduction for overtime wages paid to taxpayers.

Illinois SB0174 amends the Illinois Income Tax Act by introducing a deduction for any overtime wages paid to taxpayers during the taxable year. This deduction applies to wages paid at regular or overtime rates, in excess of the taxpayer's regular and normal monthly or weekly salary. The bill specifies that the deduction is effective immediately upon becoming law. It also includes provisions for certain exceptions and limitations, ensuring that the deduction does not apply to all types of income or expenses.