Mississippi HB510 provides a state income tax credit for taxpayers claiming the federal earned income tax credit.
Mississippi HB510 allows taxpayers who claim the federal earned income tax credit to receive a refundable credit against their state income taxes. The credit amount is equal to ten percent of the federal credit claimed. If the credit exceeds the taxpayer's state income tax liability, the excess amount is refunded by the Department of Revenue. The act takes effect from January 1, 2026.
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