2022
Regular Session
Income tax; revise certain provisions relating pass-through entities.
AN ACT TO ALLOW PARTNERSHIPS, S CORPORATIONS OR SIMILAR PASS-THROUGH ENTITIES TO ELECT TO BE TAXED AS AN ELECTING PASS-THROUGH ENTITY FOR STATE INCOME TAX PURPOSES AND PAY INCOME TAX AT THE ENTITY LEVEL; TO PROVIDE THE MANNER BY WHICH A PARTNERSHIP, S CORPORATION OR SIMILAR PASS-THROUGH ENTITY MAY ELECT TO BE TAXED AS AN ELECTING PASS-THROUGH ENTITY; TO PROVIDE THAT EACH OWNER, MEMBER, PARTNER OR SHAREHOLDER OF AN ELECTING PASS-THROUGH ENTITY SHALL REPORT HIS OR HER PRO RATA OR DISTRIBUTIVE SHARE OF THE INCOME OF THE ELECTING PASS-THROUGH ENTITY BUT SHALL NOT BE LIABLE FOR INCOME TAX IMPOSED ON SUCH PRO RATA OR DISTRIBUTIVE SHARE; TO PROVIDE THAT EACH OWNER, MEMBER, PARTNER OR SHAREHOLDER OF AN ELECTING PASS-THROUGH ENTITY SHALL BE ALLOWED A CREDIT AGAINST INCOME TAXES IN AN AMOUNT EQUAL TO HIS OR HER PRO RATA OR DISTRIBUTIVE SHARE OF INCOME TAX PAID BY THE ELECTING PASS-THROUGH ENTITY WITH RESPECT TO THE CORRESPONDING TAXABLE YEAR; TO AMEND SECTIONS 27-7-25 AND 27-8-7, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.
11/16/22 at 22:06
H
B
1691
House Bill 1691
HB 1691
H
Law
Revenue
Yes
Three/Fifths
January 1, 2022
416
Ways and Means
F
../../House_cmtes/WM.xml
Finance
F
../../Senate_cmtes/FI.xml
Busby
../../House_authors/Busby.xml
A
../../code_sections/027/00070025.xml
A
../../code_sections/027/00080007.xml
1
02/22 (H) Referred To Ways and Means
2
02/22 (H) Title Suff Do Pass Comm Sub
3
02/23 (H) Committee Substitute Adopted
4
02/23 (H) Passed
../../../../2022/pdf/votes/house/0510005.pdf
5
02/24 (H) Transmitted To Senate
6
02/25 (S) Referred To Finance
7
03/14 (S) Title Suff Do Pass As Amended
8
03/15 (S) Amended
9
03/15 (S) Passed As Amended
../../../../2022/pdf/votes/senate/0710083.pdf
10
03/16 (S) Returned For Concurrence
11
03/17 (H) Decline to Concur/Invite Conf
12
03/22 (H) Conferees Named Lamar,Steverson,Massengill
13
03/24 (S) Conferees Named Harkins,Sparks,Fillingane
14
03/26 (H) Conference Report Filed
15
03/26 (S) Conference Report Filed
16
03/27 (S) Conference Report Adopted
../../../../2022/pdf/votes/senate/0830013.pdf
17
03/28 (H) Conference Report Adopted
../../../../2022/pdf/votes/house/0840023.pdf
18
03/30 (H) Enrolled Bill Signed
19
03/30 (S) Enrolled Bill Signed
20
04/14 Approved by Governor
../../../../documents/2022/pdf/HB/1600-1699/HB1691SG.pdf
../../../../documents/2022/html/HB/1600-1699/HB1691SG.htm
../../../../documents/2022/pdf/HB/1600-1699/HB1691IN.pdf
../../../../documents/2022/html/HB/1600-1699/HB1691IN.htm
../../../../documents/2022/pdf/HB/1600-1699/HB1691CS.pdf
../../../../documents/2022/html/HB/1600-1699/HB1691CS.htm
../../../../documents/2022/pdf/HB/1600-1699/HB1691PS.pdf
../../../../documents/2022/html/HB/1600-1699/HB1691PS.htm
../../../../documents/2022/pdf/HB/1600-1699/HB1691SG.pdf
../../../../documents/2022/html/HB/1600-1699/HB1691SG.htm
../../../../documents/2022/pdf/cr/HB1691CR.pdf
../../../../documents/2022/html/cr/HB1691CR.htm
Conference Report
Amendment Report for House Bill No. 1691
../../../../documents/2022/pdf/sam/Amendment_Report_for_HB1691.pdf
../../../../../documents/2022/html/sam/Amendment_Report_for_HB1691.htm
Committee Amendment No 1
Adopted
../../../../documents/2022/pdf/sam/HB1691_S_Cmte_Amend_01.pdf
../../../../../documents/2022/html/sam/HB1691_S_Cmte_Amend_01.htm
Voice Vote
N
../../../../documents/2022/pdf/fiscalnotes/HB1691.pdf