MS SB3102 | 2023 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 4-0)
Status: Failed on March 14 2023 - 100% progression
Action: 2023-03-14 - Died In Committee
Text: Latest bill text (Engrossed) [HTML]
Spectrum: Partisan Bill (Republican 4-0)
Status: Failed on March 14 2023 - 100% progression
Action: 2023-03-14 - Died In Committee
Text: Latest bill text (Engrossed) [HTML]
Summary
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.
Title
Income tax; revise certain provisions relating to electing pass-through entities.
Sponsors
Roll Calls
2023-02-22 - Senate - Senate Passed (Y: 51 N: 0 NV: 1 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2023-03-14 | House | Died In Committee |
| 2023-02-23 | House | Referred To Ways and Means |
| 2023-02-23 | Senate | Transmitted To House |
| 2023-02-22 | Senate | Passed |
| 2023-02-22 | Senate | Committee Substitute Adopted |
| 2023-02-21 | Senate | Title Suff Do Pass Comm Sub |
| 2023-02-21 | Senate | Referred To Finance |
