Minnesota HF1368 exempts tip income from individual income tax and withholding requirements.

Minnesota HF1368 amends state tax law to exempt tip income from individual income tax and withholding requirements. Tip income is defined as amounts reported to employers or the IRS as wages. The exemption applies to taxable years beginning after December 31, 2024. The bill modifies Minnesota Statutes sections 290.0132 and 290.92 to include this exemption.

Minnesota HF1368 exempts tip income from individual income tax and withholding requirements.

Minnesota HF1368 amends state tax law to exempt tip income from individual income tax and withholding requirements. Tip income is defined as amounts reported to employers or the IRS as wages. The exemption applies to taxable years beginning after December 31, 2024. The bill modifies Minnesota Statutes sections 290.0132 and 290.92 to include this exemption.