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MS HB51

Bill

Official Source

Status

Failed

2/25/2015

Primary Sponsor

Bobby Moak

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Amends Section 27-7-18 of Mississippi Code to allow taxpayers to deduct amounts paid for tuition, fees, and other required costs at public or private universities, colleges, or community/junior colleges
  • Married individuals filing joint or combined returns may deduct up to $1,000.00 per tax year for education expenses of themselves or dependents
  • Single individuals may deduct up to $500.00 per tax year for education expenses of themselves or dependents
  • Becomes effective January 1, 2015
  • Does not affect any tax claims, assessments, or appeals for taxes accrued before the effective date

Legislative Description

Income tax; authorize an adjustment to gross income for higher education tuition, fees and other costs.

Last Action

Died In Committee

2/25/2015

Committee Referrals

Ways and Means1/6/2015

Full Bill Text

No bill text available