Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
Personal Income Tax Law: exclusions from income: retirement: overtime.
AB 2336, as introduced, Macedo.
What This Bill Does
- AB 2336, as introduced, Macedo.
- Personal Income Tax Law: exclusions from income: retirement: overtime.
- The Personal Income Tax Law, in modified conformity with federal income tax laws, defines “gross income” as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income.
- This bill would, for taxable years beginning on or after January 1, 2026, and before January 1, 2031, exclude from gross income the first $25,000 of overtime pay received by a taxpayer during the taxable year.
Limits and Unknowns
- This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.