Section 35-3-05-09-100 - Owner and Land Eligibility1. An eligible owner may be a non-resident; however, eligible lands include only land located within the State of Mississippi. If one person as a life tenant holds property with remainder to another person, the life tenant is considered to be the eligible owner of the property that may qualify as eligible land for reforestation tax credit purposes. For purposes of this section, eligible lands shall not include leased property. Accordingly, a lessee cannot qualify as an eligible owner with respect to costs incurred for reforestation practices on leased land.2. Land on which cost share assistance was received for a particular practice is not eligible for the reforestation tax credit for that practice, unless the eligible owner's adjusted gross income is less than the federal earned income credit level for that taxable year. The STC will determine the federal earned income credit level each year based on information provided by the Internal Revenue Service.35 Miss. Code. R. 3-05-09-100