MISSISSIPPI LEGISLATURE
2007 Regular Session
To: Finance
By: Senator(s) Butler
AN ACT TO PROVIDE AN INCOME TAX CREDIT IN AN AMOUNT EQUAL TO ANY COURT ORDERED CHILD SUPPORT PAYMENTS MADE BY THE TAXPAYER DURING THE TAX YEAR; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. There shall be allowed as a credit against the tax imposed by this chapter, an amount equal to any court ordered child support payments made by the taxpayer during the tax year. The credit that may be utilized in any one (1) tax year shall be limited to an amount not greater that the total state income tax liability of the taxpayer.
SECTION 2. Section 1 of this act shall be codified in Chapter 7 of Title 27, Mississippi Code of 1972.
SECTION 3. This act shall take effect and be in force from and after January 1, 2007.