Join us at the Huntsville/Madison County Chamber to learn about the new taxation rules for overtime pay. For the tax year beginning on or after January 1, 2024, amounts received by a full-time hourly wage paid employee as compensation for work performed in excess of 40 hours in any given week are excluded from gross income and therefore exempt from Alabama income tax. But, how should employers keep up with this requirement and what reporting issues does this raise?
We will host Rep. Anthony Daniels, Minority Leader in the Alabama House of Representatives and sponsor of the legislation, and Ms. Cameran Clark, Director of Tax Policy and Government Affairs from the Alabama Department of Revenue, to tell us more about the new law and provide guidance.
Minority Leader, Alabama House of Representatives