MS HB212

Amends Mississippi income tax law to phase out state income tax on individual taxable income by 2030.

Eliminates the 4% tax rate on income between $5,000-$10,000 starting calendar year 2023.

Reduces the top tax rate on income over $10,000 annually: from 5% in 2023 to 4.7% (2024), 4.4% (2025), 4% (2026), 3% (2027), 2% (2028), 1% (2029), and 0% starting 2030.

Maintains the no-tax threshold on the first $5,000 of individual income beginning 2022.

Takes effect July 1, 2025.