MS HB469

Authorizes income tax credits for small business enterprises with 50 or fewer employees that create new full-time jobs (35+ hours per week) and increase employment by at least 10 percent.

Sets tiered credit rates based on county economic designation: 10 percent of payroll in Tier Three areas, 5 percent in Tier Two areas, and 2.5 percent in Tier One areas.

Credits apply for five years (years two through six after job creation) and can be extended up to two additional years if the business is in a declared disaster area.

Unused tax credits may be carried forward for five years from the close of the tax year in which jobs were created, limited to 50 percent of the taxpayer's state income tax liability per year.

Excludes businesses involved in transportation, handling, storage, processing, or disposal of hazardous waste from eligibility.