Mississippi HB4099 would exclude NIL compensation from state income tax.
Mississippi HB4099 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 an intercollegiate athlete in exchange for the use of their name, image, or likeness. This change would affect Mississippi residents who receive such compensation. The bill specifies that "intercollegiate athlete" means an individual who enrolls in and participates in an intercollegiate athletics program at a postsecondary educational institution in Mississippi.
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