Individual income tax: deductions; deduction for all compensation earned by a taxpayer 17 years of age or younger; provide for. Amends sec. 30 of 1967 PA 281 (MCL 206.30).

HB 4592 would create a new tax deduction for Michigan taxpayers aged 17 or younger, allowing them to subtract their earned income (such as wages from a part-time job) from their taxable income. This directly affects minor workers in Michigan who earn income through employment. The bill amends Michigan's tax code to add this deduction under existing provisions for other types of income, reducing the amount of income subject to state income tax. The change would lower tax bills for qualifying young workers but does not alter other tax rules or create new government programs. (Note: This bill is currently in committee and has not been enacted.)