Mississippi HB4039 revises income tax credits for employers providing dependent care for employees.
Mississippi HB4039 amends the income tax credit for employers who provide dependent care for employees during work hours. Employers can receive a 50% credit for costs related to dependent care, including stipends to licensed entities or direct expenses for care facilities. The credit is capped at $3,000 per child per year and $50,000 per employer annually. Employers can also opt for a rebate equal to 75% of the credit amount. The total credits and rebates awarded cannot exceed $5,000,000 annually.
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