Mississippi House Bill 1695 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on March 16 2016 - 100% progression
Action: 2016-03-16 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Create The Taxpayer Pay Raise Act Of 2016; To Amend Section 27-7-5, Mississippi Code Of 1972, To Phase Out, Effective Calendar Year 2021, Income Taxation On The First $5,000.00 Of Taxable Income; To Begin Phasing Out Income Taxation On The Next $5,000.00 Of Taxable Income In Calendar Year 2026 And Complete The Phase-out Income Taxation On Such Amount In Calendar Year 2031; To Amend Section 27-7-18, Mississippi Code Of 1972, To Provide That A Portion Of The Federal Self-employment Taxes Assessed Against Self-employed Individuals Shall Be Allowed As An Adjustment To Gross Income Under The State Income Tax Law; To Amend Sections 27-13-5 And 27-13-7, Mississippi Code Of 1972, To Phase Out The Corporation Franchise Tax Effective January 1, 2026; To Repeal, Effective January 1, 2026, Sections 27-13-1 Through 27-13-67, Mississippi Code Of 1972, Which Are The Corporation Franchise Tax Law; And For Related Purposes.

Taxpayer Pay Raise Act of 2016; phase out income tax on first $5,000.00 of taxable income, phase out franchise tax.

Rep. Joel Bomgar [R]

Date	Chamber	Action
2016-03-16	House	Died In Committee
2016-03-08	House	Referred To Ways and Means

Type	Source
Summary	https://billstatus.ls.state.ms.us/2016/pdf/history/HB/HB1695.xml
Text	https://billstatus.ls.state.ms.us/documents/2016/html/HB/1600-1699/HB1695IN.htm