MISSISSIPPI LEGISLATURE

1997 Regular Session

To: Ways and Means

By: Representative Frierson

AN ACT TO PROVIDE AN INCOME TAX CREDIT TO TAXPAYERS FOR AD VALOREM TAXES PAID ON EQUIPMENT AND MACHINERY USED IN PROCESSING OR PACKAGING BLUEBERRIES; AND FOR RELATED PURPOSES. 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) For any taxpayer who pays to a county, municipality, school district, levee district or any other taxing authority of the state or a political subdivision thereof, ad valorem taxes imposed on equipment and machinery used in processing or packaging blueberries, a credit against the income taxes imposed under this chapter shall be allowed for the portion of ad valorem taxes so paid in the amount prescribed in subsection (2) of this section.

(2) The tax credit allowed by this section shall not exceed the amount of income tax imposed upon the taxpayer for the taxable year, and the credit may be claimed only for the year in which the ad valorem taxes are paid. The tax credit allowed by this section may be claimed for each location where such equipment is found and upon which the ad valorem taxes have been paid.

SECTION 2. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the income tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the income tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.

SECTION 3. Section 1 of this act shall be codified in Article 1, Chapter 7, Title 27, Mississippi Code of 1972.

SECTION 4. This act shall take effect and be in force from and after January 1, 1997.