Mississippi HB4014 proposes to exclude NIL compensation from gross income for state income tax purposes.
Mississippi HB4014 amends the state income tax law to revise the definition of "gross income" to exclude NIL compensation. NIL compensation refers to money, goods, or services provided to intercollegiate athletes while enrolled at a postsecondary educational institution in Mississippi. This change aims to align state tax law with the evolving landscape of college athletes' earnings.
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