Pipeline · Bill → Law
Step 1
Introduced
Apr 5, 2024
Step 2
Referred
Apr 5, 2024
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill excludes from gross income, for income tax purposes, eligible tips not exceeding $20,000 in a taxable year. The bill defines eligible tips as amounts received by a taxpayer while performing services in a position that generally relies on tips as part of wages, including cosmetology, hospitality, and food service. This tax exclusion terminates with respect to tips received after 2028.
Timeline · 2 actions
Apr 5, 2024
Introduced in House
Apr 5, 2024
Referred to the House Committee on Ways and Means.