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MS HB510
Bill
Status
Failed
2/25/2026
Primary Sponsor
Percy Watson
Click for details
AI Summary
- Creates a state income tax credit equal to 10% of the federal Earned Income Tax Credit (EITC) for Mississippi taxpayers who claim the federal credit
- Credit is fully refundable, meaning taxpayers receive a cash refund from the Department of Revenue for any amount exceeding their state income tax liability
- Taxpayers must provide a copy of their federal return and any other information required by the Department of Revenue to claim the credit
- Takes effect January 1, 2026
Legislative Description
Income tax; provide a credit for taxpayers who claim a federal earned income tax credit.
Last Action
Died In Committee
2/25/2026
Committee Referrals
Ways and Means1/12/2026
Full Bill Text
No bill text available