MS HB695

Amends Mississippi Code Section 27-7-15 to exclude compensation received by Mississippi residents for active federal service in the U.S. Armed Forces while stationed outside Mississippi pursuant to military orders from gross income for state income tax purposes.

Adds new subsection (gg) to the list of items excluded from gross income, specifically targeting active duty military pay for service members stationed out-of-state.

Effective January 1, 2013, with no retroactive effect on prior tax assessments, claims, or enforcement actions under existing income tax laws.