AN ACT TO AMEND SECTION 57-121-7, MISSISSIPPI CODE OF 1972, TO ALLOW AN INCOME TAX DEDUCTION FOR OTHERWISE DEDUCTIBLE EXPENSES IF THE PAYMENT FOR SUCH EXPENSES IS MADE WITH THE GRANT OR LOAN PROGRAM OF THE PAYCHECK PROTECTION PROGRAM AS AUTHORIZED UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT AND THE CONSOLIDATED APPROPRIATIONS ACT OF 2021, THE COVID-19 ECONOMIC INJURY DISASTER LOAN PROGRAM, THE 2020 COVID-19 MISSISSIPPI BUSINESS ASSISTANCE ACT, AND/OR THE RENTAL ASSISTANCE GRANT PROGRAM, AND SUCH EXPENSES ARE ALLOWED AS DEDUCTIONS FOR FEDERAL INCOME TAX PURPOSES; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 57-121-7
As Passed by the House: 57-121-7
Approved by the Governor: 57-121-7