Minnesota SF587 amends individual income tax to allow a subtraction for gratuities paid to employees.

Minnesota SF587 amends the state's individual income tax law by adding a subtraction for gratuities paid to employees. This change will take effect for taxable years beginning after December 31, 2024. The bill defines "gratuities" according to section 177.23, subdivision 9, of the Minnesota Statutes. This amendment aims to adjust the taxable income calculation for employees who receive gratuities as part of their compensation.

Minnesota SF587 amends individual income tax to allow a subtraction for gratuities paid to employees.

Minnesota SF587 amends the state's individual income tax law by adding a subtraction for gratuities paid to employees. This change will take effect for taxable years beginning after December 31, 2024. The bill defines "gratuities" according to section 177.23, subdivision 9, of the Minnesota Statutes. This amendment aims to adjust the taxable income calculation for employees who receive gratuities as part of their compensation.