Bill > HB1106

This bill creates a state income tax credit for Mississippi taxpayers who claim the federal Earned Income Tax Credit (EITC), which is a federal tax benefit designed to assist low to moderate-income working individuals and families. The credit will be equal to 10% of the federal EITC amount claimed on a taxpayer's federal tax return. If the state tax credit amount exceeds the taxpayer's state income tax liability, the taxpayer will receive a refund for the difference from the Department of Revenue. To qualify, taxpayers must claim the federal EITC on their federal tax return and provide a copy of that return to the state tax authorities. The bill will take effect on January 1, 2025, and will be codified as a new section in Chapter 7, Title 27 of the Mississippi Code. The legislation also includes a provision ensuring that this new law will not impact any existing tax claims, assessments, or ongoing tax-related legal proceedings that were in progress before the act's effective date.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB1106.xml