MS HB211

Excludes from Mississippi state income tax "gross income" any amounts received as payment for compensation or damages for property taken by eminent domain or condemnation.

Applies only when the property purchase date is at least five (5) years before the date the property is taken by eminent domain or condemnation.

Amends Section 27-7-15 of the Mississippi Code of 1972 by adding a new subsection (ss) to the list of exemptions from gross income taxation.

Takes effect January 1, 2025.