MS SB2833

Allows taxpayers to claim an income tax credit for qualified adoption expenses in the same taxable year they claim an exemption for an adopted child, eliminating the previous restriction against claiming both in the same year.

Sets the maximum tax credit at $2,500 per dependent child legally adopted under Mississippi state law during calendar year 2006 or any year thereafter.

Permits unused tax credits to be carried forward for three succeeding tax years if not fully used in the year of adoption.

Defines "qualified adoption expenses" to mean the same as defined under 26 USCS 23 (the federal adoption expense definition).

Takes effect January 1, 2013.