Mississippi legislation · 2026 Regular Session
Mississippi HB4014: Income tax; exclude NIL compensation from gross income.
Status: Failed, March 17, 2026
AN ACT TO AMEND SECTION 27-7-15, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "GROSS INCOME" UNDER THE STATE INCOME TAX LAW TO EXCLUDE NIL COMPENSATION; AND FOR RELATED PURPOSES.
What the bill says
An act to amend section 27-7-15, mississippi code of 1972, to revise the definition of the term "gross income" under the state income tax law to exclude nil compensation; and for related purposes.
From the introduced text:
AN ACT TO AMEND SECTION 27-7-15, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "GROSS INCOME" UNDER THE STATE INCOME TAX LAW TO EXCLUDE NIL COMPENSATION; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Section 27-7-15, Mississippi Code of 1972, is amended as follows: 27-7-15. (1) For the purposes of this article, except as otherwise provided, the term "gross income" means and includes the income of a taxpayer derived from salaries, wages, fees or compensation for service, of whatever kind and in whatever form paid, including income from governmental agencies and subdivisions thereof; or from professions, vocations, trades, businesses, commerce or sales, or renting or dealing in property, or reacquired property; also from annuities, interest, rents, dividends, securities, insurance premiums, reinsurance premiums, considerations for supplemental insurance contracts, or the transaction of any business carried on for gain or profit, or gains, or profits, and income derived from any source whatever and *HR43/R1876.1* H. B. No. 4014 ~ OFFICIAL ~ R3/5 26/HR43/R1876.1 PAGE 1 (BS\KP) in whatever form paid. The amount of all such items of income shall be included in the gross income for the taxable year in which received by the taxpayer. The amount by which an eligible employee's salary is reduced pursuant to a salary reduction …
Sponsors
- McMillan, Jonathan (R, 58) · primary sponsor
- Shanks, Fred (R, 60)
- Scott, Omeria (D, 80)
Latest actions
- : Died In Committee
- : Referred To Finance
- : Transmitted To Senate
- : Passed
- : Title Suff Do Pass
- : Referred To Ways and Means
Votes
- Passed (February 25, 2026): 76 yea, 32 nay, passed
Subjects: Income tax
Common questions
- What is HB4014?
- HB4014 is a bill in the Mississippi Legislature (2026 Regular Session): Income tax; exclude NIL compensation from gross income.
- What does HB4014 do?
- In its own words: An act to amend section 27-7-15, mississippi code of 1972, to revise the definition of the term "gross income" under the state income tax law to exclude nil compensation; and for related purposes.
- What is the status of HB4014?
- Failed as of March 17, 2026. Latest action: Died In Committee (March 17, 2026).
- Who sponsored HB4014?
- McMillan, Jonathan (R, 58), with 2 co-sponsors.
- Where is the official record for HB4014?
- On the Mississippi Legislature website: http://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB4014.xml
Source: official Mississippi record. Tracked by Delilah, AI for legislation across all 50 states and Congress.