MS HB216

Amends Mississippi Code Section 27-7-15 to exclude overtime compensation required by the Fair Labor Standards Act of 1938 from the definition of "gross income" for state income tax purposes.

Adds a new subsection (kk) to the list of income items exempt from Mississippi state income taxation, specifically covering overtime pay earned under federal fair labor standards requirements.

Takes effect January 1, 2018.

Does not affect any tax claims, assessments, appeals, or suits for taxes due or accrued before the effective date.