Did not become law. It stopped in the House of Representatives's Ways and Means Committee on February 22, 2023. The 2023 session has ended.
2023 Regular Session
House Bill 672
Income tax; revise certain provisions relating to electing pass-through entities.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO AMEND SECTION 27-7-26, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES PARTNERSHIPS, S CORPORATIONS OR SIMILAR PASS-THROUGH ENTITIES TO ELECT TO BE TAXED AS AN ELECTING PASS-THROUGH ENTITY FOR STATE INCOME TAX PURPOSES AND PAY INCOME TAX AT THE ENTITY LEVEL, AND ALLOWS EACH OWNER, MEMBER, PARTNER OR SHAREHOLDER OF AN ELECTING PASS-THROUGH ENTITY A CREDIT AGAINST INCOME TAXES IN AN AMOUNT EQUAL TO HIS OR HER PRO RATA OR DISTRIBUTIVE SHARE OF INCOME TAX PAID BY THE ELECTING PASS-THROUGH ENTITY WITH RESPECT TO THE CORRESPONDING TAXABLE YEAR, TO PROVIDE THAT ANY EXCESS CREDIT NOT USED IN A TAXABLE YEAR MAY BE CARRIED FORWARD FOR FIVE CONSECUTIVE YEARS FROM THE CLOSE OF THE TAXABLE YEAR IN WHICH THE CREDIT WAS ALLOWED; AND FOR RELATED PURPOSES.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the House of Representatives
Sponsor
Its course
January 16 to February 22, 2023, on one scale. In the top row each mark is a day something happened; taller marks are busier days.
Each committee stop sits inside its chamber.
Every action2 actions on 2 days
In the House of RepresentativesJan 16 to Feb 22 · stopped37 days
Ways and MeansJan 16 to Feb 22 · stopped37 days
Text
Each version as the Legislature printed it.
l9n doesn't hold this bill's text yet.
What happened
In l9n's words, one line for each step. Every action as the Legislature published it is below.
In the House of Representatives Jan 16 – Feb 22
- Jan 16Referred to the House committee on Ways and Means
- Feb 22Died in committee in the House
All 2 actions, as published
- Jan 16Referred To Ways and MeansHouse of Representatives
- Feb 22Died In CommitteeHouse of Representatives