MS HB785

Companies that transfer or relocate their national or regional headquarters to Mississippi from outside the state may claim an income tax credit equal to their actual relocation costs, including travel expenses for employees searching for homes and moving expenses for household goods and personal property

A minimum of 20 jobs must be created to qualify for the relocation cost credit, and companies must certify compliance with the federal Equal Pay Act, Americans with Disabilities Act, and Civil Rights Act fair pay provisions

The maximum cumulative tax credits available to all taxpayers under the relocation provision is capped at $1,000,000 per state fiscal year, excluding credits carried forward from previous years

Unused tax credits may be carried forward for five years, but credits taken in any single tax year are limited to 50% of the taxpayer's state income tax liability attributable to Mississippi operations

The relocation cost credit provision is set to expire on July 1, 2019