MS HB1189

Creates a 25-member task force to study Mississippi's income tax laws, with a focus on corporate income reporting methods and unitary reporting systems used in other states.

Task force composition: 10 members appointed by House Speaker (including House leadership, 2 CPAs, representatives from business and legal sectors, and public members); 10 members appointed by Lieutenant Governor (including Senate leadership, 2 CPAs, manufacturing representatives, and public members); 5 members appointed by Governor (including Commissioner of Revenue, Mississippi Development Authority director, and public members).

Task force must report findings and recommendations to the Legislature during the 2013 Regular Session, including any proposed legislation regarding unitary income reporting implementation and related franchise tax law changes.

Members appointed within 30 days of sine die adjournment of 2012 session; non-legislative and non-state employee members receive per diem compensation at rates authorized by Section 25-3-69 and reimbursement for mileage and expenses.

Task force has access to existing legislative staff and may request facilities, assistance, and data from any state department, agency, or political subdivision to carry out its duties.