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MS HB972

Bill

Official Source

Status

Passed

3/20/2025

Primary Sponsor

Fred Shanks

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Extends the repeal date of the income tax job credit for water transportation enterprises from January 1, 2026 to January 1, 2029
  • Water transportation enterprises engaged in inland cargo transportation on lakes, rivers, and intracoastal waterways receive an annual $2,000 tax credit per Mississippi full-time job created, valid for five years
  • Enterprises eligible for the credit before January 1, 2029 may carry forward unused credits after that date as provided in existing law
  • Maximum aggregate tax credits claimable by all taxpayers per year cannot exceed $2,000,000
  • Effective date: July 1, 2025

Legislative Description

Income tax; extend repealer on jobs tax credit for certain water transportation enterprises.

Last Action

Approved by Governor

3/20/2025

Committee Referrals

Finance2/17/2025
Ways and Means1/17/2025

Full Bill Text

No bill text available