Bill > SB3175

This bill amends the Illinois Income Tax Act to create a new deduction for taxpayers, allowing them to subtract any overtime wages they earned during the taxable year from their income when calculating their Illinois income tax. This means that the portion of their income earned from overtime work will not be subject to Illinois income tax, potentially reducing their overall tax liability. The bill specifies that this deduction applies to overtime wages paid at regular or overtime rates that exceed the taxpayer's normal monthly or weekly salary, and this provision is exempt from certain other tax provisions outlined in Section 250 of the Act.

https://www.ilga.gov/Legislation/BillStatus?DocNum=3175&GAID=18&DocTypeID=SB&SessionID=114&GA=104