Mississippi Extends Income Tax Credit for Railroads to 2029

The Mississippi Governor signed a law amending Section 27-7-22.42 of the Mississippi Code, to extend the repealer date for income tax credits available to Class II and Class III railroads for qualified railroad reconstruction, replacement, and new rail infrastructure expenditures. The law clarifies that an “eligible transferee” means any taxpayer with tax liability under the chapter, and extends the provision’s repealer date to Jan. 1, 2029. The law takes effect July 1. [S.B. 2832, enacted 03/13/26]

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