Federal deduction for qualified overtime compensation adopted.

Summary

The bill adds a new subsection to Minnesota’s income‑tax statutes allowing a subtraction for qualified overtime compensation, as defined by the federal Internal Revenue Code. The subtraction becomes available for tax years beginning after December 31, 2028, and the change is retroactive to tax years after December 31, 2024. It affects Minnesota taxpayers who receive overtime earnings that qualify under the federal rules.

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