summary
Introduced
01/16/2023
01/16/2023
In Committee
01/16/2023
01/16/2023
Crossed Over
Passed
Dead
02/22/2023
02/22/2023
Introduced Session
2023 Regular Session
Bill Summary
An Act To Create The Mississippi Income Tax Holiday Act Of 2023; To Provide That, Beginning With Taxes Owed For Calendar Year 2023, Any Taxpayer Filing A Mississippi Individual Income Tax Return Will Receive A Credit In An Amount Equal To 20% Of The Tax Amount, If Any, Reported As "income Tax Due" Before The Application Of Credits; To Specify That The Credit Authorized In This Act May Not Be Transferred To Another Taxpayer Or Carried Over To Another Year; And For Related Purposes.
AI Summary
This bill, the Mississippi Income Tax Holiday Act of 2023, would provide Mississippi individual income taxpayers with a 20% credit on their "income tax due" amount for the 2023 tax year. The credit cannot be transferred to another taxpayer or carried over to another year, and the Act will be repealed on December 31, 2025. The bill is set to take effect on January 1, 2024.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 02/22/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://billstatus.ls.state.ms.us/2023/pdf/history/SB/SB2701.xml |
| BillText | http://billstatus.ls.state.ms.us/documents/2023/html/SB/2700-2799/SB2701IN.htm |
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