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MS SB2701
Bill
AI Summary
- Creates the Mississippi Income Tax Holiday Act of 2023, providing a 20% tax credit on individual income tax returns for calendar year 2023 and beyond
- Tax credit equals 20% of the "income tax due" amount reported on Form 80-105 (line 17) or Form 80-205 (line 20) for each tax year
- Credit cannot be transferred to another taxpayer or carried forward to future tax years
- Provision sunsets and repeals on December 31, 2025
- Takes effect January 1, 2024
Legislative Description
Mississippi Income Tax Holiday Act of 2023; create.
Last Action
Died In Committee
2/22/2023
Committee Referrals
Finance1/16/2023
Full Bill Text
No bill text available