MS SB3001

Amends Section 27-7-15 of the Mississippi Code to exclude all amounts received as compensation for active or reserve duty in the National Guard from the definition of "gross income" for state income tax purposes.

Adds a new exemption paragraph (ss) to the list of items excluded from gross income, with no dollar limit on the exclusion amount.

Replaces the previous limited exemption under paragraph (m) which capped National Guard compensation exclusion at $5,000 annually through 2005 and $15,000 annually thereafter.

Takes effect January 1, 2024.