l9n/ Mississippi

2023 Regular Session

Senate Bill 3102

Income tax; revise certain provisions relating to electing pass-through entities.

Did not become law. It stopped in the House of Representatives's Ways and Means Committee on March 14, 2023. The 2023 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 27-7-26, MISSISSIPPI CODE OF 1972, TO REVISE THE METHOD BY WHICH A PARTNERSHIP, S CORPORATION OR SIMILAR PASS-THROUGH ENTITY MAY ELECT TO BECOME AN ELECTING PASS-THROUGH ENTITY FOR INCOME TAX PURPOSES, AND BY WHICH SUCH ELECTION MAY BE REVOKED; TO INCLUDE EACH OWNER'S, MEMBER'S, PARTNER'S OR SHAREHOLDER'S PRO RATA OR DISTRIBUTIVE SHARE OF THE ELECTING PASS-THROUGH ENTITY'S INCOME IN THE COMPUTATION OF SUCH INDIVIDUAL TAXPAYER'S INCOME TAX LIABILITY; TO PROVIDE THAT THE INDIVIDUAL TAXPAYER'S CREDIT SHALL BE EQUAL TO HIS OR HER PRO RATA OR DISTRIBUTIVE SHARE OF TAX DUE BEFORE APPLICATION OF ANY ENTITY-LEVEL CREDITS BY THE ELECTING PASS-THROUGH ENTITY; TO PROVIDE THAT, IF AN OWNER'S, MEMBER'S, PARTNER'S OR SHAREHOLDER'S CREDIT EXCEEDS HIS OR HER INCOME TAX LIABILITY, SUCH EXCESS SHALL BE CREDITED OR REFUNDED TO SUCH PERSON; 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 Senate

3 co-sponsors

Daniel H. Sparks, Chad McMahan, Nicole Boyd

Its course

February 21 to March 14, 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 action7 actions on 4 days

In the SenateFeb 21 to Feb 221 day

FinanceFeb 21 to Feb 210 days

In the House of RepresentativesFeb 22 to Mar 14 · stopped20 days

Ways and MeansFeb 23 to Mar 14 · stopped19 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 Senate Feb 21 – Feb 22

  1. Feb 21Referred to the Senate committee on Finance
  2. Reported from committee in the Senate: title sufficient, do pass as a committee substitute
  3. Feb 22Committee substitute adopted in the Senate
  4. Passed the Senate

In the House of Representatives Feb 23 – Mar 14

  1. Feb 23Sent to the House
  2. Referred to the House committee on Ways and Means
  3. Mar 14Died in committee in the House
All 7 actions, as published
  1. Feb 21Referred To FinanceSenate
  2. Feb 21Title Suff Do Pass Comm SubSenate
  3. Feb 22Committee Substitute AdoptedSenate
  4. Feb 22PassedSenate
  5. Feb 23Transmitted To HouseSenate
  6. Feb 23Referred To Ways and MeansHouse of Representatives
  7. Mar 14Died In CommitteeHouse of Representatives