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MississippiHB 9612025 Regular SessionHouseWALLET

Income tax; codify and extend repealers on tax credits for certain charges for using certain port and airport facilities.

Sponsored By: Fred Shanks (Republican)

Signed by Governor

Ways and MeansFinance

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Airport cargo businesses keep tax credits

Beginning July 1, 2025, Mississippi continues its income tax credit for cargo imports and exports through public airports. Businesses must locate their United States headquarters in Mississippi on or after July 1, 2005. They must add at least five permanent full-time headquarters workers, each working at least 35 hours weekly. They must also invest at least $2 million in Mississippi property after July 1, 2005. The credit equals 50% of cargo receiving, aircraft marshalling or handling, and landing charges. It cannot exceed 50% of yearly income tax due after other credits; unused credits carry forward for five succeeding years. Total credit caps depend on headquarters employment: $1 million for 5–25 workers and $2 million for 26–100. The caps rise to $3 million for 101–200 workers and $4 million for more than 200. Businesses must give the revenue department an airport authority statement certifying charges and other required information. Businesses eligible before July 1, 2028, remain eligible after that date despite the scheduled repeal. The Mississippi Development Authority must report annually on shipping growth, jobs, and the credit’s net state economic impact. Job comparisons cover jobs created or retained since January 1, 2006, against the prior ten-year period. Reports go to the Governor and designated legislative officials by May 1, with cooperation from airports and the revenue department.

Port exporters keep business tax credits

Beginning July 1, 2025, Mississippi continues its income tax credit for corporations exporting cargo through state, county, or municipal ports. Qualifying charges cover receiving cargo, moving it onto a vessel, and fees for using the dock. The yearly credit cannot exceed 50% of income tax due after other credits. Unused credits can carry forward for five succeeding years. Corporations must give the Department of Revenue a port authority statement certifying their charges and other required information. The law retains a $1.2 million cumulative cap for January 1, 1994, through December 31, 2005. The credit and its reporting requirement are scheduled for repeal on July 1, 2028. Each year, the Mississippi Development Authority must report on port shipping growth, jobs, and the credit’s net state economic impact. Shipping comparisons cover the latest year and prior five years. Job comparisons cover gains or retained jobs since January 1, 1994, against the previous ten-year period. Reports go to the Governor and designated legislative officials by May 1, with cooperation from ports and the revenue department. These reports help lawmakers evaluate whether to continue the credit.

Sponsors & Cosponsors

Sponsor

  • Fred Shanks

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 164 • No: 0

Senate vote • 3/10/2025

Passed

Yes: 50 • No: 0

House vote • 2/11/2025

Passed

Yes: 114 • No: 0

Actions Timeline

  1. Approved by Governor

    3/18/2025legislature

  2. Enrolled Bill Signed

    3/12/2025Senate

  3. Enrolled Bill Signed

    3/12/2025House

  4. Returned For Enrolling

    3/11/2025Senate

  5. Passed

    3/10/2025Senate

  6. Title Suff Do Pass

    3/4/2025Senate

  7. Referred To Finance

    2/17/2025Senate

  8. Transmitted To Senate

    2/12/2025House

  9. Passed

    2/11/2025House

  10. Title Suff Do Pass

    1/28/2025House

  11. Referred To Ways and Means

    1/17/2025House

Bill Text

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