MS HB333

Extends the repeal date from July 1, 2011 to July 1, 2014 for an income tax credit allowing taxpayers to claim charges incurred at state, county, and municipal ports for importing cargo (receiving, handling from vessel, and wharfage).

Maintains eligibility requirements: taxpayer must have U.S. headquarters in Mississippi since July 1, 2004, employ at least 5 full-time employees at headquarters, and maintain minimum capital investment of $2,000,000.

Sets cumulative credit limits based on employee count: $1,000,000 for 5-25 employees, $2,000,000 for 26-100 employees, $3,000,000 for 101-200 employees, and $4,000,000 for over 200 employees; credit capped at 50% of annual tax liability.

Extends to July 1, 2014 the repeal date for the requirement that the Mississippi Development Authority file annual reports to the Legislature on the tax credit's impact on shipping, job creation, and economic growth.

Takes effect July 1, 2011.