Mississippi legislation · 2026 Regular Session
Mississippi HB510: Income tax; provide a credit for taxpayers who claim a federal earned income tax credit.
Status: Failed, February 25, 2026
AN ACT TO PROVIDE A STATE INCOME TAX CREDIT FOR TAXPAYERS CLAIMING THE FEDERAL EARNED INCOME TAX CREDIT; TO PROVIDE THE AMOUNT OF THE CREDIT; TO PROVIDE THAT IF THE AMOUNT OF CREDIT CLAIMED BY A TAXPAYER EXCEEDS THE AMOUNT OF INCOME TAX IMPOSED UPON THE TAXPAYER FOR THE TAXABLE YEAR, THEN THE TAXPAYER SHALL RECEIVE A REFUND FROM THE DEPARTMENT OF REVENUE FOR THE AMOUNT OF SUCH EXCESS; AND FOR RELATED PURPOSES.
What the bill says
An act to provide a state income tax credit for taxpayers claiming the federal earned income tax credit; to provide the amount of the credit; to provide that if the amount of credit claimed by a taxpayer exceeds the amount of income tax imposed upon the taxpayer for the taxable year, then the taxpayer shall receive a refund from the department of revenue for the amount of such excess; and for related purposes.
From the introduced text:
AN ACT TO PROVIDE A STATE INCOME TAX CREDIT FOR TAXPAYERS CLAIMING THE FEDERAL EARNED INCOME TAX CREDIT; TO PROVIDE THE AMOUNT OF THE CREDIT; TO PROVIDE THAT IF THE AMOUNT OF CREDIT CLAIMED BY A TAXPAYER EXCEEDS THE AMOUNT OF INCOME TAX IMPOSED UPON THE TAXPAYER FOR THE TAXABLE YEAR, THEN THE TAXPAYER SHALL RECEIVE A REFUND FROM THE DEPARTMENT OF REVENUE FOR THE AMOUNT OF SUCH EXCESS; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. (1) Any taxpayer allowed to claim a federal earned income tax credit under 26 USCS Section 32, shall be allowed a refundable credit against the taxes imposed under this chapter in the manner prescribed in this section. The amount of the credit shall be equal to ten percent (10%) of the amount of the federal credit allowed under 26 USCS Section 32 claimed by the taxpayer on the taxpayer's federal income tax return. If the amount of credit claimed by a taxpayer exceeds the amount of income tax imposed upon the taxpayer for the taxable year reduced by the sum of all other credits allowable to the taxpayer under the state income tax laws, except credit for tax payments made by or on behalf of the taxpayer, then the taxpayer shall receive a *HR31/R1418* …
Sponsors
- Watson, Percy W. (D, 103) · primary sponsor
Latest actions
- : Died In Committee
- : Referred To Ways and Means
Subjects: Income tax
Common questions
- What is HB510?
- HB510 is a bill in the Mississippi Legislature (2026 Regular Session): Income tax; provide a credit for taxpayers who claim a federal earned income tax credit.
- What does HB510 do?
- In its own words: An act to provide a state income tax credit for taxpayers claiming the federal earned income tax credit; to provide the amount of the credit; to provide that if the amount of credit claimed by a taxpayer exceeds the amount of income tax imposed upon the taxpayer for the taxable year, then the taxpayer shall receive a refund from the department of revenue for the amount of such excess; and for related purposes.
- What is the status of HB510?
- Failed as of February 25, 2026. Latest action: Died In Committee (February 25, 2026).
- Who sponsored HB510?
- Watson, Percy W. (D, 103).
- Where is the official record for HB510?
- On the Mississippi Legislature website: http://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0510.xml
Source: official Mississippi record. Tracked by Delilah, AI for legislation across all 50 states and Congress.