MS HB729

Authorizes an income tax credit for companies that transfer or relocate their national or regional headquarters to Mississippi from outside the state, equal to actual relocation costs paid by the company.

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

Caps the maximum cumulative tax credits that may be claimed by all taxpayers in any one state fiscal year at $1,000,000, exclusive of carryforward credits from previous years.

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

Sunsets the relocation credit provision on July 1, 2018, and makes conforming changes to references within the Mississippi Code related to tax administration responsibilities.