MS HB1555

Extends the repeal date of income tax credit provisions for taxpayers using public airport facilities for cargo export/import from July 1, 2016 to July 1, 2019.

Allows eligible taxpayers to claim credits for airport charges including receiving cargo, aircraft marshalling/handling fees, and aircraft landing fees, with a maximum cumulative credit ranging from $1 million to $4 million based on number of employees.

Requires taxpayers to have U.S. headquarters in Mississippi, employ at least five permanent full-time employees at headquarters, and invest a minimum of $2 million in Mississippi real or personal property to qualify for the credit.

Updates references from "State Tax Commission" to "Department of Revenue" to reflect agency reorganization.

Requires Mississippi Development Authority to file annual reports to the Legislature by May 1 showing shipping increases, job creation/retention, and net economic impact of the tax credit at each airport.