MS SB2085

Allows Mississippi taxpayers who claim the federal Earned Income Tax Credit under 26 USC § 32 to claim a state income tax credit equal to 20% of their federal EITC amount.

Makes the state credit refundable, meaning taxpayers receive a refund from the Department of Revenue if the credit exceeds their state income tax liability after accounting for all other allowable credits.

Requires taxpayers to claim the federal EITC on their federal income tax return and provide a copy of that return and other information requested by the Department of Revenue to obtain the state credit.

Takes effect on January 1, 2025, and does not affect any tax claims, assessments, or appeals that accrued before the effective date.