MS HB1322

Allows taxpayers an annual income tax credit of $2,000 for each honorably discharged veteran employed, for up to five years per employee.

Tax credit limited to the amount of tax owed by the taxpayer for that year, reduced by other allowable credits (excluding tax payments).

Requires employees to work at least six consecutive months during the year and average at least 30 hours per week to qualify.

Unused tax credits can be carried forward for five consecutive years following the year the credits were earned.

Section automatically repeals January 1, 2016, though taxpayers eligible before that date may continue claiming and carrying forward credits.