HB1679

Mississippi HB1679 provides a state income tax credit for taxpayers claiming the federal income child tax credit.

Mississippi HB1679 offers a state income tax credit to taxpayers who claim a federal income child tax credit. The credit amounts to $1,200 for each child for which the taxpayer claimed the federal credit. The credit can be used against the taxpayer's total tax liability and any unused credit can be carried forward for up to five years. The bill specifies that the credit is available for federal credits claimed before or after the act's effective date, January 1, 2025.