MS HB112

Creates a state income tax credit equal to 10% of the federal Earned Income Tax Credit (EITC) claimed by Mississippi taxpayers

Makes the credit fully refundable, meaning taxpayers receive a cash refund from the Department of Revenue for any credit amount exceeding their state income tax liability

Requires taxpayers to claim the federal EITC on their federal return and provide a copy of that return to the Department of Revenue to qualify

Does not affect any tax claims, assessments, or actions for taxes due before the effective date

Takes effect January 1, 2025