reglab/housing_qa huggingface dataset:
MS Code § 27-7-22.30 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-22.30. Manufacturing investment tax credit for manufacturing enterprises that have operated in Mississippi for not less than two years

  As used in this section:   "Manufacturing enterprise" means an enterprise that:   Falls within the definition of the term "manufacturer" in Section 27-65-11; and   Has operated in this state for not less than two (2) years prior to application for the credit authorized by this section; and     "Eligible investment" means an investment of at least One Million Dollars ($1,000,000.00) in buildings and/or equipment for the manufacturing enterprise.     A manufacturing enterprise is allowed a manufacturing investment tax credit for taxes imposed by Section 27-7-5 equal to five percent (5%) of the eligible investments made by the manufacturing enterprise.   Any tax credit claimed under this section but not used in any taxable year may be carried forward for five (5) years from the close of the tax year in which the eligible investment was made, but the credit established by this section taken in any one tax year shall not exceed fifty percent (50%) of the taxpayer's state income tax liability which is attributable to income derived from operations in the state for that year reduced by the sum of all other income tax credits allowable to the taxpayer, except credit for tax payments made by or on behalf of the taxpayer.   The maximum credit that may be claimed by a taxpayer on any project shall be limited to One Million Dollars ($1,000,000.00).   The credit received under this section is subject to recapture if the property for which the tax credit was received is disposed of, or converted to, other than business use. The amount of the credit subject to recapture is one hundred percent (100%) of the credit in the first year and fifty percent (50%) of the credit in the second year. This subsection shall not apply in cases in which an entire facility is sold.   The sale, merger, acquisition, reorganization, bankruptcy or relocation from one (1) county to another county within the state of any manufacturing enterprise may not create new eligibility in any succeeding business entity, but any unused manufacturing investment tax credit may be transferred and continued by any transferee of the enterprise. The State Tax Commission shall determine whether or not qualifying net increases or decreases have occurred or proper transfers of credit have been made and may require reports, promulgate regulations, and hold hearings as needed for substantiation and qualification.   No manufacturing enterprise for the transportation, handling, storage, processing or disposal of hazardous waste is eligible to receive the tax credits provided in this section.   The credits allowed under this section shall not be used by any business enterprise or corporation other than the manufacturing enterprise actually qualifying for the credits.
MS Code § 27-7-22.32 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-22.32. Income tax credit for certain qualified adoption expenses

 [Through December 31, 2020, this section shall read as follows:]      There shall be allowed as a credit against the tax imposed by this chapter the amount of the qualified adoption expenses paid or incurred, not to exceed Two Thousand Five Hundred Dollars ($2,500.00), for each dependent child legally adopted by a taxpayer under the laws of this state during calendar year 2006 or during any calendar year thereafter through calendar year 2017, and not to exceed Five Thousand Dollars ($5,000.00) for each dependent child legally adopted by a taxpayer under the laws of this state during any calendar year thereafter. A taxpayer claiming a credit under this paragraph (a) may not claim a credit under paragraph (b) of this subsection for the adoption of the same child.   There shall be allowed as a credit against the tax imposed by this chapter the amount of Five Thousand Dollars ($5,000.00) for each dependent child legally adopted by a taxpayer under the laws of this state through the Mississippi Department of Child Protection Services during calendar year 2018 or during any calendar year thereafter. A taxpayer claiming a credit under this paragraph (b) may not claim a credit under paragraph (a) of this subsection for the adoption of the same child.     The tax credit under this section may be claimed for the taxable year in which the adoption becomes final under the laws of this state. Any tax credit claimed under this section but not used in any taxable year may be carried forward for the five (5) succeeding tax years. A tax credit is allowed under this section for any child for which an exemption is claimed during the same taxable year under Section 27-7-21(e). For the purposes of this section, the term "qualified adoption expenses" means and has the same definition as that term has in 26 USCS 36C.
MS Code § 27-7-22.32 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-22.32. Income tax credit for certain qualified adoption expenses

 [Effective from and after January 1, 2021, this section shall read as follows:]   There shall be allowed as a credit against the tax imposed by this chapter the amount of the qualified adoption expenses paid or incurred, not to exceed Two Thousand Five Hundred Dollars ($2,500.00), for each dependent child legally adopted by a taxpayer under the laws of this state during calendar year 2006 or during any calendar year thereafter. The tax credit under this section may be claimed for the taxable year in which the adoption becomes final under the laws of this state. Any tax credit claimed under this section but not used in any taxable year may be carried forward for the three (3) succeeding tax years. A tax credit is allowed under this section for any child for which an exemption is claimed during the same taxable year under Section 27-7-21(e). For the purposes of this section, the term "qualified adoption expenses" means and has the same definition as that term has in 26 USCS 36C.
MS Code § 27-7-22.33 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-22.33. Income tax credit for certain long-term care insurance policy premiums; limitations

  A taxpayer shall be allowed a credit against the income taxes imposed under this chapter in an amount equal to twenty-five percent (25%) of the premium costs paid during the taxable year for a qualified long-term care insurance policy as defined in Section 7702B of the Internal Revenue Code that offers coverage to either the individual, the individual's spouse, the individual's parent or parent-in-law, or the individual's dependent as defined in Section 152 of the Internal Revenue Code.   No taxpayer shall be entitled to the credit with respect to the same expended amounts for qualified long-term care insurance which are claimed by another taxpayer.   The credit allowed by this section shall not exceed Five Hundred Dollars ($500.00) or the taxpayer's income tax liability, whichever is less, for each qualified long-term care insurance policy. Any unused tax credit shall not be allowed to be carried forward to apply to the taxpayer's succeeding year's tax liability.   No credit shall be allowed under this section with respect to any premium for qualified long-term care insurance either deducted or subtracted by the taxpayer in arriving at his net taxable income under this section or with respect to any premiums for qualified long-term care insurance which were excluded from his net taxable income.
MS Code § 27-7-22.36 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-22.36. Job tax credit for enterprises owning or operating an upholstered household furniture manufacturing facility for each full-time employee employed in new cut and sew job

  As used in this section:   "Full-time employee" means an employee that works at least thirty-five (35) hours per week.   "New cut and sew job" means a job in which the employee cuts and sews upholstery for upholstered household furniture and which job did not exist in this state before January 1, 2010.     Any enterprise owning or operating an upholstered household furniture manufacturing facility is allowed a job tax credit for taxes imposed by this chapter equal to Two Thousand Dollars ($2,000.00) annually for each full-time employee employed in a new cut and sew job for a period of five (5) years from the date the credit commences. The credit shall commence on the date selected by the enterprise. For the year in which the commencement date occurs, the credit will be determined based on the monthly average number of full-time employees employed in new cut and sew jobs subject to the Mississippi income tax withholding that are employed by the enterprise. For each year thereafter, the number of new cut and sew jobs shall be determined by comparing the monthly average number of full-time employees employed in new cut and sew jobs subject to the Mississippi income tax withholding for the taxable year with the corresponding period of the prior taxable year. The Department of Revenue shall verify that the jobs claimed by enterprises to obtain the credit meet the definition of the term "new cut and sew job." The Department of Revenue shall adjust the credit allowed each year for employment fluctuations.   The credit that may be used each year shall be limited to an amount not greater than the total state income tax liability of the enterprise. Any tax credit claimed under this section but not used in any taxable year may be carried forward for five (5) consecutive years from the close of the tax year in which the credits were earned.   The tax credits provided for in this section shall be in lieu of the tax credits provided for in Section 57-73-21 and any enterprise using the tax credit authorized in this section shall not use the tax credit authorized in Section 57-73-21.   Any taxpayer who is eligible for the credit authorized in this section prior to January 1, 2022, shall be eligible for the credit authorized in this section, notwithstanding the repeal of this section, and shall be allowed to carry forward the credit after January 1, 2022, as provided for in subsection (3) of this section.   This section shall be repealed from and after January 1, 2022.
MS Code § 27-7-22.37 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-22.37. Income tax credit for qualified prekindergarten program support contributions

  There shall be allowed as a credit against the tax imposed by Section 27-7-5 the amount of the qualified prekindergarten program support contributions paid to approved providers, lead partners or collaboratives, not to exceed One Million Dollars ($1,000,000.00), by any individual, corporation or other entity having taxable income under the laws of this state during calendar year 2013 or during any calendar year thereafter. In order to qualify for a tax credit, such contributions may support the local match requirement of approved providers, lead partners or collaboratives as is necessary to match state-appropriated funds, and any such providers, lead partners or collaboratives shall be approved by the State Department of Education.   Any unused portion of the credit may be carried forward for three (3) tax years.   Any prekindergarten program support contribution shall be verified by submission to the Mississippi Department of Revenue of a copy of the receipt provided to the donor taxpayer by the prekindergarten program recipient or such other written verification as may be required by the Department of Revenue.   The maximum amount of donations accepted by the Department of Revenue in calendar year 2014 shall not exceed Eight Million Dollars ($8,000,000.00), in calendar year 2015 shall not exceed Fifteen Million Dollars ($15,000,000.00), and in calendar year 2016 and calendar years thereafter shall not exceed Thirty-two Million Dollars ($32,000,000.00), or what is appropriated by the Legislature to fund Chapter 493, Laws of 2013, each year.   The Mississippi Department of Revenue shall promulgate rules necessary to effectuate the purposes of Chapter 493, Laws of 2013. Such rules shall include a means of informing the public of the existence of the prekindergarten support program and the application process for provider, lead partner and collaborative candidates.
MS Code § 27-7-24.7 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-24.7. Allocation and apportionment of income of financial institution with taxable activities within and without state; payroll factor; compensation; employee services

  The payroll factor is a fraction, the numerator of which is the total amount paid in this state during the taxable year by the taxpayer for compensation and the denominator of which is the total compensation paid both within and without this state during the taxable year. The payroll factor shall include only that compensation which is included in the computation of the apportionable income tax base for the taxable year.   The compensation of any employee for services or activities which are connected with the production of nonbusiness income (income which is not includable in apportionable income base) and payments made to any independent contractor or any other person not properly classifiable as an employee shall be excluded from both the numerator and denominator of the factor.   Compensation is paid in this state if any one of the following tests, applied consecutively, is met:   The employee's services are performed entirely within this state.   The employee's services are performed both within and without the state, but the service performed without the state is incidental to the employee's service within the state. As used in this paragraph, the term "incidental" refers to any service which is temporary or transitory in nature, or which is rendered in connection with any isolated transaction.   If the employee's services are performed both within and without this state, the employee's compensation will be attributed to this state:   If the employee's principal base of operations is within this state; or   If there is no principal base of operations in any state in which some part of the services are performed, but the place from which the services are directed or controlled is in this state; or   If the principal base of operations and the place from which the services are directed or controlled are not in any state in which some part of the service is performed but the employee's resident is in this state.
MS Code § 27-7-24.8 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-24.8. Allocation and apportionment of income of major medical or pharmaceutical supplier of Mississippi distribution facility with taxable activities within and without state

  For purposes of the income tax imposed by this chapter, a major medical or pharmaceutical supplier of a Mississippi distribution facility whose business activity is taxable both within and without this state shall apportion its business income (income which is includable in the apportionable tax base) to this state by multiplying such income by an apportionment percentage determined in accordance with this section.   The apportionment percentage of a major medical or pharmaceutical supplier of a Mississippi distribution facility shall be determined by:   Adding together:   A payroll factor, which shall be counted twice,   A property factor, which shall be counted twice, and   A sales factor, which shall be counted once; and     Then dividing the sum of such factors by five (5).     The payroll factor, property factor, and sales factor of a major medical or pharmaceutical supplier of a Mississippi distribution facility shall be calculated as follows:   The payroll factor is a fraction, the numerator of which is the total amount paid to employees for services performed in this state for the taxable year and the denominator of which is the total amount paid both within and without this state during the taxable year;   The property factor is a fraction, the numerator of which is the value of real property and tangible personal property rented to the taxpayer that is located or used within this state during the taxable year (valued at eight (8) times the annual rental rate) and the average value of the taxpayer's real and tangible personal property owned that is located or used within this state during the taxable year and the denominator of which is the value of real property and tangible personal property rented to the taxpayer (valued at eight (8) times the annual rental rate) and the average value of the taxpayer's real and tangible personal property owned that is located or used within and without this state during the taxable year; and   The sales factor is a fraction, the numerator of which is the receipts of the taxpayer in this state during the taxable year and the denominator of which is the receipts of the taxpayer within and without this state during the taxable year.     For purposes of this section:   "Major medical" or "pharmaceutical supplier" means a company or group of affiliated companies (as defined in Section 27-7-37) who ship medical or pharmaceutical products to a Mississippi distribution facility.   "Mississippi distribution facility" means and has the same definition as such term has in Section 27-13-13(2)(d).
MS Code § 27-7-25 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-25. Partnerships

 Individuals carrying on businesses in partnerships shall be liable for income tax only in their individual capacity, unless for federal purposes the partnership is taxable as a corporation. If so, then the partnership is also taxable as a corporation for state purposes and is subject to all of the corporate tax laws and regulations. The gross income of an individual partner shall be the gross income the partnership distributed on the same basis as net income or earnings may be distributed. If the preceding exception applies, then the partner will be treated as a shareholder in a corporation.   There shall be included in computing the net income of each partner his distributive share, whether distributed or not, of the net income of the partnership for the taxable year.   The net income of the partnership shall be computed in the same manner and on the same basis as provided for individuals, provided no personal exemption shall be granted and, provided further, that husband and wife partnerships shall not be recognized for the purpose of this article, unless it can be proven that husband and wife have each contributed capital out of their separate estates, and not by gift, from one to the other.   In the case of partnerships, each partner that would otherwise be required to include more than twelve (12) months of income in a single taxable year may elect to include such excess in income in one (1) year or ratably over a period of four (4) taxable years.   In the event the individual partners fail to report and pay the taxes imposed according to this section, then the partnership and the general partners shall be jointly and severally liable for said tax liability and shall be assessed accordingly. However, the partnership and/or general partner shall not be liable if the partnership withholds five percent (5%) of the net gain or profit of the partnership for the tax year and remits the same to the commissioner. Such amounts paid to the commissioner shall be deemed to be payments of estimated tax of the partners and shall be allocated pro rata to the partners' taxpayer accounts. The commissioner may allow, or require, block or composite filing by a partnership, or withholding on a nonresident partner.   Magnetic media reporting may be required in a manner to be determined by the commissioner.   Partnership returns shall be filed in such manner and at such time as prescribed by law.
MS Code § 27-7-27 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-27. Estates and trusts

  The tax imposed under the income tax laws of the State of Mississippi shall apply to the income of estates of any kind or property held in trust except:   That a trust forming part of a pension plan, stock bonus plan, disability or death benefit plan or profit-sharing plan of an employer for the exclusive benefit of some or all of his or its employees, or their beneficiaries, to which contributions are made by such employer, or employees, or both, for the purpose of distributing to such employees, or their beneficiaries, the earnings and principal of the fund accumulated by the trust in accordance with such plan, shall not be taxable under the income tax laws of the State of Mississippi provided that the trust is irrevocable and no part of the trust corpus or income can be used for purposes other than for the exclusive benefit of employees, or their beneficiaries; but any amount actually distributed or made available to any distributee shall be taxable to him in the year in which so distributed or made available to the extent that it exceeds amounts paid in by him.   That all trusts of real or personal property, or real and personal property combined, created under a retirement plan for which provision has been made under the laws of the United States of America exempting such trust from federal income tax, shall be exempt from income taxation by the State of Mississippi.     Notwithstanding the provisions of subsection (1) of this section, a taxpayer shall include any Mississippi unrelated business taxable income in computing its taxable income under this chapter. As used in this subsection "Mississippi unrelated business taxable income" includes:   "Unrelated business taxable income" as defined under the provisions of the Internal Revenue Code, as amended, and not otherwise inconsistent with other provisions of this chapter, and   Any income attributable to an ownership interest in an S corporation.     A trust required to include the activity of a disregarded entity for federal income tax purposes shall do likewise for the purpose of computing income for this state.   Except as otherwise provided in this section, the gross and net income shall be determined in the same manner as is provided by law for any other taxpayer.
MS Code § 27-7-31 (2020)
2020 Mississippi Code|Title 27 - Taxation and Finance|Chapter 7 - Income Tax and Withholding|Article 1 - Income Tax|§ 27-7-31. Returns of income tax; individual returns

  Every resident individual (whether single or married) and every nonresident individual (whether single or married) owning or selling property, earning income, or doing business in the State of Mississippi, having a gross income for the taxable year in excess of the exemptions allowed hereunder, plus the standard deduction, shall make a return, which shall contain an oath or be verified by a written declaration that it is made under the penalties of perjury, stating specifically the items of gross income and the deductions and exemptions allowed by this article. The commissioner may prescribe methods by which the taxpayer may make such oath or declaration other than by writing.   Married individuals may elect to file either separate or joint returns. In any case where a husband and wife file a joint return, and one spouse is granted relief from liability under 26 USCS 6015, such spouse shall be granted comparable relief from liability for the tax imposed under this chapter.   If the taxpayer is unable to make his own return, the return shall be made by a duly authorized agent or by the guardian or other person charged with the care of the person or estate of such taxpayer.