Bill Text | History of Actions | Background | Title |
Description: Income tax; revise period for which net casualty losses may be carried back as deductions.
Bill Text: [Introduced] [Passed House] [Sent to Governor]
| 1 | 01/23 (H) Referred To Ways and Means | |
| 2 | 02/20 (H) Title Suff Do Pass | |
| 3 | 02/20 (H) Read the Third Time | |
| 4 | 02/21 (H) Passed {Vote} | |
| 5 | 02/22 (H) Transmitted To Senate | |
| 6 | 02/23 (S) Referred To Finance | |
| 7 | 03/07 (S) Title Suff Do Pass | |
| 8 | 03/13 (S) Passed {Vote} | |
| 9 | 03/14 (S) Transmitted To House | |
| 10 | 03/16 (H) Enrolled Bill Signed | |
| 11 | 03/19 (S) Enrolled Bill Signed | |
| 12 | 03/26 Approved by Governor |
| Effective date | January 1, 2007 | |
| Disposition | Law | |
| Deadline | Revenue | |
| Revenue | Yes | |
| Vote type required | Three/Fifths | |
| Chapter number | 466 |
House Committee:
Senate Committee:
Principal Author: Zuber
Additional Authors: Palazzo, Guice
Code Sections: A 027-0007-0020, A 027-0007-0049
Title: AN ACT TO AMEND SECTION 27-7-20, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT NET CASUALTY LOSS DEDUCTIONS MAY BE CARRIED BACK MORE THAN THREE YEARS IF OTHERWISE PROVIDED UNDER THE INTERNAL REVENUE CODE; TO AMEND SECTION 27-7-49, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE THREE-YEAR EXAMINATION PERIOD FOR STATE INCOME TAX RETURNS SHALL NOT APPLY WHERE THE REPORTABLE TAXABLE INCOME OF A TAXPAYER HAS BEEN DECREASED BY THE CARRYBACK OF A NET CASUALTY LOSS DEDUCTION OR NET OPERATING LOSS DEDUCTION INSOFAR AS THE STATE INCOME TAX LIABILITY IS AFFECTED BY THE CARRYBACK OF THE APPLICABLE DEDUCTION; AND FOR RELATED PURPOSES.
End Of Document
2007/html/History/HB/HB1563.htm