Mississippi HB1256 authorizes a state income tax credit for active drilling members of the National Guard.
Mississippi HB1256 provides a refundable credit of $650 against state income tax for taxpayers who are active drilling members of the Army National Guard or Air National Guard and eligible for an exemption from gross income for National Guard compensation. If the credit exceeds the income tax owed, the taxpayer will receive a refund from the Department of Revenue. This act does not affect any claims or assessments for taxes due before its effective date.
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