MS HB182

Authorizes an income tax credit for small business enterprises (100 or fewer employees) that create new full-time jobs (35+ hours per week) with a minimum 10% employment increase.

Sets tiered credit rates based on county economic designation: 10% of payroll in Tier Three areas, 5% in Tier Two areas, and 2.5% in Tier One areas, available for five years starting in year two after job creation.

Credits may be carried forward for five years from the close of the tax year in which qualified jobs were created, with a cap limiting annual credit use to 50% of state income tax liability.

Excludes businesses engaged in hazardous waste transportation, handling, storage, processing, or disposal from eligibility; prevents credit transfers to successor entities except in cases where the original business ceased operations entirely.

Requires small business enterprises to submit applications to the Department of Revenue, which shall adjust credits annually based on employment and payroll fluctuations, effective January 1, 2019.