MS HB1675

Authorizes income tax credits for small business enterprises (100 or fewer employees) that create new full-time jobs (35+ hours per week) and increase employment by at least 10 percent.

Credit rates vary by county tier: 10% of payroll in Tier Three areas, 5% in Tier Two areas, and 2.5% in Tier One areas, available for five years beginning in year two after job creation.

Unused tax credits may be carried forward for five years from the close of the tax year in which jobs were created, limited to 50% of the taxpayer's annual state income tax liability.

Excludes businesses involved in hazardous waste transportation, handling, storage, processing, or disposal from eligibility.

Allows Commissioner of Revenue to extend the credit period by up to two years for businesses in Governor-declared disaster areas unable to maintain required employment levels.