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MS HB1694
Bill
Status
Failed
2/24/2010
Primary Sponsor
Harvey Moss
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AI Summary
- Allows employers an annual income tax credit of $2,000 per employee for five years if they hire someone who was unemployed for at least six months immediately before employment
- Requires employees to work at least six consecutive months with an average of 30 hours per week during the tax year to qualify for the credit
- Limits annual tax credit to the amount of tax owed minus other allowable credits, with unused credits carried forward for five consecutive years
- Mississippi Department of Employment Security must verify unemployment status of hired employees
- Credit is repealed effective January 1, 2013, but employers who qualified before that date may continue carrying forward unused credits
Legislative Description
Income tax; authorize a job credit for employers that hire certain unemployed persons.
Last Action
Died In Committee
2/24/2010
Full Bill Text
No bill text available