Miss. Bill Floats Income Tax Relief For Small Biz Amid Virus

Mississippi would not tax income from certain small businesses that didn't receive federal loans for pandemic relief under a bill introduced in the state house of Representatives.

H.B. 1430, which Rep. John Hines, D-Greenville, introduced Friday, would provide a gross income exclusion for tax years 2020 and 2021 for businesses that didn't receive federal paycheck protection loans from the Coronavirus Aid, Relief, and Economic Security Act and that have eight employees or fewer.

--Additional reporting by Paul Williams. Editing by Leah Bennett.

For a reprint of this article, please contact reprints@law360.com.