MS HB805

Authorizes an annual income tax credit of $2,000 for taxpayers who employ honorably discharged veterans hired on or after January 1, 2014, with discharge dates on or after January 1, 2009.

Credit applies for five consecutive years per eligible employee, subject to a maximum equal to the taxpayer's tax liability minus all other allowable credits (excluding tax payments made).

Requires the veteran employee to work at least six consecutive months during the year and average at least 30 hours per week to qualify for the credit.

Unused tax credits may be carried forward for five consecutive years from the close of the tax year in which they were earned.

Sunset provision repeals the credit effective January 1, 2017, though taxpayers who qualified before that date may continue to carry forward unused credits as allowed.