AN ACT TO CREATE THE MISSISSIPPI FULL EXPENSING TAX REFORM ACT OF 2023; TO STATE THE PURPOSE OF THE ACT; TO PROVIDE DEFINITIONS; TO ALLOW THE FULL AND IMMEDIATE EXPENSING OF RESEARCH AND DEVELOPMENT EXPENDITURES OR, ALTERNATIVELY, THE DEPRECIATION OF SUCH EXPENDITURES ON A SCHEDULE; TO ALLOW THE FULL AND IMMEDIATE EXPENSING OF EXPENDITURES FOR QUALIFIED PROPERTY OR QUALIFIED IMPROVEMENT PROPERTY OR, ALTERNATIVELY, THE DEPRECIATION OF SUCH EXPENDITURES ON A SCHEDULE; TO DIRECT THE DEPARTMENT OF REVENUE TO DEVELOP RULES FOR THE IMPLEMENTATION OF THE ACT; TO BRING FORWARD SECTION 27-7-17, MISSISSIPPI CODE OF 1972, FOR THE PURPOSE OF POSSIBLE AMENDMENT; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 27-7-17
As Passed by the Senate: 27-7-17