MS SB3112

Licensed charter boat operators and commercial fishermen in Mississippi would receive an income tax credit equal to fuel taxes paid under Sections 27-55-519 and 27-55-521 for fuel used on bodies of water rather than roads or highways.

Unused tax credits may be carried forward for five consecutive years from the tax year in which the credit was earned.

The credit amount in any tax year cannot exceed the taxpayer's total state income tax liability for that year.

Applicants must certify fuel tax amounts paid, provide a current charter boat operator or commercial fishing license, and submit documentation as required by the Department of Revenue.

The act takes effect January 1, 2026.