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MS HB1572
Bill
Status
2/25/2015
Primary Sponsor
Jeffrey Smith
Click for details
AI Summary
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Newly licensed physicians and nurse practitioners who practice and reside in critical physician shortage areas (designated as rural or underserved by the Mississippi Rural Physicians Scholarship Commission) may exclude income exceeding $100,000 from gross income for state tax purposes.
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The tax exemption applies to physicians who have been licensed for less than one year and nurse practitioners certified for less than one year.
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Qualifying physicians and nurse practitioners may utilize the exemption for up to ten consecutive years if they continue to practice and reside in a critical shortage area for that entire period.
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The Department of Revenue shall promulgate rules and regulations to implement the exemption provisions.
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The act takes effect July 1, 2015.
Legislative Description
Income tax; exempt a portion of income of certain physician/nurse practitioners practicing in critical physician shortage areas.
Last Action
Died In Committee
2/25/2015