MS HB972

Authorizes an income tax credit for companies that transfer or relocate their national or regional headquarters to Mississippi from outside the state, covering up to 50% of actual relocation costs paid.

Requires a minimum of 20 jobs to be created by the relocation to qualify for the credit.

Caps individual company credits at $1,000,000 per taxable year, with a maximum cumulative state fiscal year limit of $3,000,000 across all taxpayers claiming the credit.

Allows unused credits to be carried forward for 5 years from the tax year in which relocation costs were paid.

Sunsets this relocation credit provision on January 1, 2018, and takes effect January 1, 2013.