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MS HB1363

Bill

Official Source

Status

Failed

2/24/2021

Primary Sponsor

De Stamps

Click for details

Origin

House of Representatives

2021 Regular Session

AI Summary

  • Exempts all compensation of any kind from Mississippi state income tax for persons who are retired from active service in the U.S. Armed Forces and receiving a military retirement allowance
  • The exemption applies in addition to existing exemptions for military retirement pay itself, effectively making all income tax-free for military retirees
  • Amends Section 27-7-15 of the Mississippi Code, which defines "gross income" for state income tax purposes
  • Effective date of January 1, 2021
  • Does not affect any tax claims, assessments, or causes of action for taxes due before the effective date

Legislative Description

Income tax; exempt all compensation of persons retired from military.

Last Action

Died In Committee

2/24/2021

Committee Referrals

Ways and Means2/11/2021

Full Bill Text

No bill text available