Mississippi HB693 increases the exclusion for National Guard compensation from $15,000 to $25,000 for state income tax purposes.
Mississippi HB693 amends the state income tax law to increase the exclusion for National Guard compensation from $15,000 to $25,000. This change applies to members of the National Guard who receive compensation for active service. The bill specifies that this exclusion applies for the 2026 taxable year and any subsequent years. The exclusion is intended to reduce the taxable income of National Guard members, thereby lowering their state income tax liability. This provision is part of the broader effort to support and incentivize service in the National Guard.
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