Mississippi Administrative Code
Title 35 - Department of Revenue
Part 10 - Economic Development
Chapter 04 - Basic Skill Training or Retraining Tax Credit
Section 35-10-04-101

The credit allowed is fifty percent (50%) of qualified expenses, not to exceed fifty percent (50%) of the income tax liability. Any excess credit will not be refunded, but may be carried forward for up to five (5) years. The program must be certified for a specific number of years not to exceed five (5) years. The credit may offset up to fifty percent (50%) of the income tax due. It may be used in combination with any of the other credits. The training or retraining credit cannot exceed $2,500 in the aggregate per employee for a three (3) year period.