US SB1121

Raises the adjusted gross income limit for performing artists to claim above-the-line deductions from the current threshold to $100,000 ($200,000 for joint filers), with a phaseout reducing the deduction by 10 percentage points for each $2,000 ($4,000 joint) above the limit

Explicitly allows performing artists to deduct commissions paid to managers or agents as qualifying business expenses

Increases the threshold for determining "nominal employers" from $200 to $500, allowing artists with more income from a single employer to still qualify for the deduction

Establishes annual cost-of-living adjustments for both the $100,000 income threshold and the $500 nominal employer threshold beginning in calendar years after 2025

Applies to taxable years beginning after December 31, 2024