MS HB1212

Exempts from Mississippi state income tax all compensation of any kind received by retired members of the U.S. Armed Forces who are receiving a military retirement allowance

This exemption is in addition to existing exemptions for military retirement allowances, pensions, and annuities already excluded from gross income under current law

Amends Section 27-7-15 of the Mississippi Code, which defines "gross income" for state income tax purposes

Effective date of January 1, 2022, with provisions protecting any tax claims, assessments, or actions arising before the effective date