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MS HB592
Bill
Status
Failed
2/25/2026
Primary Sponsor
Zakiya Summers
Click for details
AI Summary
- Creates a state income tax credit equal to 5% of the federal Earned Income Tax Credit (EITC) claimed by Mississippi taxpayers
- Credit is fully refundable, meaning taxpayers receive a refund from the Department of Revenue for any credit amount exceeding their state income tax liability
- Taxpayers must claim the federal EITC and provide a copy of their federal return to the Department of Revenue to qualify
- Effective date is January 1, 2026
- Does not affect any tax claims, assessments, or collection actions for taxes accrued before the effective date
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 Means1/13/2026
Full Bill Text
No bill text available