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MS HB1586
Bill
Status
Failed
2/27/2019
Primary Sponsor
Jarvis Dortch
Click for details
AI Summary
- Creates a refundable state income tax credit equal to 10% of the federal earned income tax credit claimed by taxpayers under 26 USCS Section 32
- Allows taxpayers to receive a refund from the Department of Revenue if the state credit exceeds their state income tax liability after accounting for all other applicable credits
- Requires taxpayers to claim the federal earned income tax credit on their federal return and provide a copy to the Department of Revenue along with any other required information
- Takes effect January 1, 2019
- Does not affect any tax claims, assessments, or actions accrued before the effective date
Legislative Description
Income tax; provide a credit for taxpayers who claim a federal earned income tax credit.
Last Action
Died In Committee
2/27/2019
Committee Referrals
Ways and Means2/5/2019
Full Bill Text
No bill text available