summary
Introduced
01/04/2023
01/04/2023
In Committee
01/04/2023
01/04/2023
Crossed Over
Passed
Dead
02/22/2023
02/22/2023
Introduced Session
2023 Regular Session
Bill Summary
An Act To Amend Section 27-7-15, Mississippi Code Of 1972, To Exclude Overtime Compensation From The Definition Of "gross Income" For Purposes Of The State Income Tax Law; And For Related Purposes.
AI Summary
This bill excludes overtime compensation from the definition of "gross income" for purposes of the state income tax law in Mississippi. Specifically, the bill adds new language to the state's income tax statutes to exempt amounts received as overtime compensation required by the federal Fair Labor Standards Act from being included in a taxpayer's gross income for state income tax purposes. This change will take effect on January 1, 2023.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 02/22/2023)
Taxonomy
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | http://billstatus.ls.state.ms.us/2023/pdf/history/HB/HB0143.xml | 01/04/2023 |
| BillText | http://billstatus.ls.state.ms.us/documents/2023/html/HB/0100-0199/HB0143IN.htm | 01/04/2023 |
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