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Mississippi Legislation Would Make State HTC Transferrable, Set Taxpayer Annual Cap

Tuesday, February 9, 2021 - 9:45AM

A bill in the Mississippi Legislature would make the state historic tax credit (HTC) transferrable and would set an annual cap of $3 million per taxpayer. S.B. 2831 would allow the state HTC to be transferred once, beginning July 1, 2021. The legislation also sets the annual cap per taxpayer per fiscal year. Mississippi’s HTC is for 25% of qualified rehabilitation expenditures and does not currently have a transaction or taxpayer cap.

The 2020 Novogradac Historic Rehabilitation Handbook provides an overview and a look at the intricacies of the historic tax credit.

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