GA SB474

Excludes overtime compensation from Georgia state income tax for full-time hourly employees who work more than 40 hours per week, effective for tax years beginning January 1, 2027

Applies to overtime pay as defined under the federal Fair Labor Standards Act of 1938

Provides special treatment for employers governed by the federal National Railway Labor Act, applying the exemption to hourly component overtime compensation as defined in collective bargaining agreements

Requires employers to report monthly or quarterly to the Department of Revenue the total overtime compensation paid and the number of employees receiving such compensation

Authorizes the Department of Revenue to adopt rules and regulations for administration and to require additional employer information