Mississippi legislation · 2026 Regular Session
Mississippi HB693: Income tax; increase amount of National Guard compensation excluded from gross income.
Status: Failed, February 25, 2026
AN ACT TO AMEND SECTION 27-7-15, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $15,000.00 TO $25,000.00, THE AMOUNT OF COMPENSATION RECEIVED BY A MEMBER OF THE NATIONAL GUARD THAT IS EXCLUDED FROM THE MEANING OF "GROSS INCOME" FOR PURPOSES OF THE STATE INCOME TAX LAW; AND FOR RELATED PURPOSES.
What the bill says
An act to amend section 27-7-15, mississippi code of 1972, to increase from $15,000.00 to $25,000.00, the amount of compensation received by a member of the national guard that is excluded from the meaning of "gross income" for purposes of the state income tax law; and for related purposes.
From the introduced text:
AN ACT TO AMEND SECTION 27-7-15, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $15,000.00 TO $25,000.00, THE AMOUNT OF COMPENSATION RECEIVED BY A MEMBER OF THE NATIONAL GUARD THAT IS EXCLUDED FROM THE MEANING OF "GROSS INCOME" FOR PURPOSES OF THE STATE INCOME TAX LAW; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Section 27-7-15, Mississippi Code of 1972, is amended as follows: 27-7-15. (1) For the purposes of this article, except as otherwise provided, the term "gross income" means and includes the income of a taxpayer derived from salaries, wages, fees or compensation for service, of whatever kind and in whatever form paid, including income from governmental agencies and subdivisions thereof; or from professions, vocations, trades, businesses, commerce or sales, or renting or dealing in property, or reacquired property; also from annuities, interest, rents, dividends, securities, insurance premiums, reinsurance premiums, considerations for supplemental insurance contracts, or the transaction of any business carried on for gain or profit, or *HR26/R814* H. B. No. 693 ~ OFFICIAL ~ R3/5 26/HR26/R814 PAGE 1 (BS\KW) gains, or profits, and income derived from any source whatever and in whatever form paid. The amount of all such items of income shall be included in the gross income for the taxable year in which received by the …
Sponsors
- Carpenter, Lester (R, 1) · primary sponsor
- Harris, W.I. (R, 28)
- Hall, Rodney (R, 20)
Latest actions
- : Died In Committee
- : Referred To Ways and Means
Subjects: Income tax
Common questions
- What is HB693?
- HB693 is a bill in the Mississippi Legislature (2026 Regular Session): Income tax; increase amount of National Guard compensation excluded from gross income.
- What does HB693 do?
- In its own words: An act to amend section 27-7-15, mississippi code of 1972, to increase from $15,000.00 to $25,000.00, the amount of compensation received by a member of the national guard that is excluded from the meaning of "gross income" for purposes of the state income tax law; and for related purposes.
- What is the status of HB693?
- Failed as of February 25, 2026. Latest action: Died In Committee (February 25, 2026).
- Who sponsored HB693?
- Carpenter, Lester (R, 1), with 2 co-sponsors.
- Where is the official record for HB693?
- On the Mississippi Legislature website: http://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0693.xml
Source: official Mississippi record. Tracked by Delilah, AI for legislation across all 50 states and Congress.