MS HB1128

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

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

Caps the credit at $1,000,000 per company per taxable year, with a maximum cumulative state limit of $3,000,000 per fiscal year (excluding carried-forward credits from previous years).

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

Transfers administration authority from the State Tax Commission to the Department of Revenue and makes conforming amendments to related tax credit provisions.