MS SB2782

Authorizes an income tax credit for permanent business enterprises that expand labor forces into Mississippi from outside the state, covering actual relocation costs for relocated employees including travel and moving expenses.

Caps the maximum cumulative tax credits claimable by all taxpayers under this relocation credit at $1,000,000 per state fiscal year, excluding carried-forward credits from prior years.

Allows unused relocation tax credits to be carried forward for five years from the close of the tax year in which relocation costs were paid.

Requires businesses to create a minimum of 10, 15, or 20 new jobs (depending on county tier designation) to qualify for the relocation credit in addition to other job tax credits.

Repeals the relocation credit provision on July 1, 2020, and makes conforming amendments to telecommunications enterprise tax credit provisions in related code sections.