MS HB9

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, with a maximum credit of $1,000,000 per taxable year and $3,000,000 cumulative statewide cap per fiscal year.

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

Defines "relocation costs" as nondepreciable expenses necessary to relocate employees to the headquarters, and prohibits crediting the relocation of the same employee more than once in a 12-month period.

The relocation tax credit provision repeals on January 1, 2019, and amends related sections to reference the Department of Revenue rather than the State Tax Commission.