Mississippi Authorizes Income Tax Credit for Certain Employers

The Mississippi Governor signed a law authorizing an income tax credit for small employers with fewer than 50 employees who offer Individual Coverage Health Reimbursement Arrangements (ICHRAs). The tax credit provides up to $400 per covered employee in the first year and $200 per employee in the second year, with a statewide annual cap of $1 million and a ten-year carry-forward provision for excess credits. The law is effective Jan. 1, 2026. [H.B. 343, enacted 04/06/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.