Minnesota HF3524 allows a federal income tax deduction for qualified overtime compensation.
Minnesota HF3524 amends state tax law to adopt the federal individual income tax deduction for qualified overtime compensation. This change applies to taxable years beginning after December 31, 2028, and is effective retroactively for taxable years starting after December 31, 2024. The bill modifies Minnesota Statutes to include this federal deduction, aligning state tax policy with federal tax provisions.
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