MS HB496

Extends the repeal date of the income tax credit for upholstered household furniture manufacturing enterprises from January 1, 2013 to January 1, 2019

Maintains the $2,000 annual tax credit per full-time employee (working at least 35 hours per week) in new cut and sew jobs for five years from the credit's commencement date

Allows taxpayers eligible for the credit before January 1, 2019 to continue using and carrying forward unused credits after that date for up to five additional years

Requires the Department of Revenue to verify that jobs meet the definition of "new cut and sew jobs" (cutting and sewing upholstery for household furniture in jobs that did not exist in Mississippi before January 1, 2010)

Takes effect January 1, 2016