STATE HOUSE– Rep. Lucas Lanigan (R-Sanford) announced today that his bill to give tax relief to low and middle income earners, while addressing the workforce shortage, will have a Public Hearing Tuesday. LD 533 – “An Act to Exempt Overtime Pay from Individual Income Tax,” excludes overtime pay from income tax if the employer is required by law to pay the overtime to the employee.
“We need to give tax relief to our low and middle income earners, those hit hardest by historic price increases for everyday items,” said Rep. Lanigan. “My bill will provide tax relief, and address the worker shortage by creating additional incentives for people to work extra hours to get ahead.”
What: Public Hearing on LD 533 – “An Act to Exempt Overtime Pay from Individual Income Tax”
Where: Committee on Taxation, State House Room 127
When: Tuesday, March 28, 2023 at 2:01 PM