Individual income tax subtractions for overtime pay, tips income, bonuses, and winnings from nonprofit lawful gambling organizations provided; and changes to withholding provisions made.
A bill for an act relating to state income tax withholdings on winnings from sports wagering, and including effective date provisions.(Formerly HSB 91.)
Individual income tax: other; employment withholdings redirected from the state to certain community colleges for the new jobs training program; clarify application to professional employer organizations. Amends secs. 703, 705 & 711 of 1967 PA 281 (MCL 206.703 et seq.). TIE BAR WITH: SB 425'25
Individual income tax: withholding requirements; mandatory withholding requirement by pension administrators; make optional. Amends sec. 703 of 1967 PA 281 (MCL 206.703).
Individual income tax: revenue distributions; earmark of withholding tax capture revenues into the more jobs for Michigan fund; provide for. Amends secs. 51f & 711 of 1967 PA 281 (MCL 206.51f & 206.711).