MS SB3175

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

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

Maintains three tiers of additional tax credits ($500, $1,000, or $2,000 per employee) based on salary levels relative to state average annual wage for qualifying headquarters companies.

Applies retroactively to business enterprises that apply for the job tax credit on or after January 1, 2005, while preserving existing provisions for enterprises that applied before that date.

Takes effect January 1, 2010.