Income tax; exclude overtime compensation from gross income.

HB 204 would amend Mississippi's tax code to exclude overtime pay from the definition of "gross income" for state income tax purposes. This change directly affects Mississippi workers who earn overtime compensation, reducing their taxable income by the amount of overtime earned. The bill specifically revises Section 27-7-15 of the Mississippi Code to remove overtime from the list of items included in gross income calculations. If enacted, it would lower the state income tax burden for eligible workers receiving overtime pay.