MS HB1675

Reduces minimum new jobs requirement for companies establishing or transferring national or regional headquarters from 35 jobs to 20 jobs to qualify for the additional income tax credit.

Transfers authority from State Tax Commission to Mississippi Development Authority to establish criteria and prescribe procedures for determining if a company qualifies as a national or regional headquarters.

Applies to business enterprises applying for the job tax credit on or after January 1, 2005, with separate provisions for those who applied before that date.

Maintains additional tax credits of $500 per employee, $1,000 per employee earning 125% of state average wage, or $2,000 per employee earning 200% of state average wage for qualifying headquarters relocations.

Takes effect January 1, 2010.