Please review the Mississippi Code and Mississippi Administrative Code when analyzing your tax responsibilities and requirements.
Income Tax |
HB 991 authorizes counties and municipalities to submit certain debts owed them to the Department of Revenue for collection through an offset against the debtor’s Mississippi Income Tax refund.
HB 1613 enacts the Children’s Promise Act that authorizes an income tax credit for business enterprises that donate cash to eligible organizations. HB 1699 provides an income tax apportionment formula for medical laboratory services. SB 2210 provides an income tax credit for donations made to endowed funds held by community foundations. The aggregate amount of tax credits cannot exceed $500,000 in any one calendar year. |
Motor Vehicle and Titles
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SB 2570 authorizes new specialty plates (distinctive license plates) for motor vehicles.
SB 2577 creates a study committee to develop recommendations for streamlining the process of paying ad valorem and privilege taxes and issuance of a motor vehicle license plate. |
Sales
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SB 2193 provides that a percentage of the sales tax revenue from restaurants and hotels be diverted to the MDA Tourism Advertising Fund.
SB 2229 exempts the transfer of ownership of a motor vehicle between siblings from sales tax. SB 2425 diverts a portion of sales tax collected from businesses in a redevelopment project area to retire the debt under a Tax Increment Financing Act in Jackson County. SB 2955 provides a sales tax exemption for the sale of certain school supplies; and, for purchases made by Junior League of Jackson, Mississippi’s Toughest Kids Foundation, MS Gulf Coast Buddy Sports Inc., Biloxi Lions Inc., Lions Sight Foundation of Mississippi, and the Goldring/Woldenberg Institute of Southern Jewish Life. |
Property
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HB 1612 authorizes local improvement assessment districts to be created in Jackson. The districts may vote to levy an additional tax of up to six mils on their property for financing improvements within the district.
HB 1668 amends the law that allows local governments to grant ad valorem tax exemptions for new enterprises and to include data centers in the types of enterprises that are eligible. SB 2056 revises the investment requirements to be eligible for fee-in-lieu of ad valorem taxes under the Health Care Industry Zone Act. |
Incentives |
HB 694 reenacts an Income Tax credit for taxpayers who use port facilities at state, county and municipal ports for the export of cargo.
HB 695 extends the repealer on the Income Tax credit for a company that transfers or relocates its national or regional headquarters to Mississippi from outside the state. HB 808 extends the repealer on the Income Tax credit for manufacturers operating upholstered household furniture for each new full-time employee in a cut and sew job. HB 1065 authorizes an Income Tax credit for each full-time employee of businesses primarily engaged in providing inland water transportation of cargo on lakes, rivers and intracoastal waterways. HB 1431 revises the requirements of aerospace industries when determining eligibility for tax exemptions. SB 2271 revises the requirements necessary for a data center to qualify, revises the definition of state tax to include corporate and franchise taxes, and exempts certain utilities sold to data centers from sales tax. SB 2598 extends the date that MDA may allocate income tax and insurance premium tax credits to taxpayers holding qualified equity investments. SB 2603 amends the motion picture incentive to provide that the base investment may include payroll and fringes under certain circumstances. SB 2885 extends the date for state and local tax exemptions under the Growth and Prosperity Act. |
Local Governments |
HB 325 authorizes the city of Columbus to levy a 2% tax on the gross receipts of restaurants and other businesses on the sale of beer and alcoholic beverages. The levy excludes sales of alcoholic beverages upon premises with a package retailer’s permit and beer not for consumption on premises. HB 653 extends the repeal date on the levy in the city of Baldwyn. The levy authorizes a 2% tax on the gross proceeds of sales from room rentals at hotels/motels and the gross proceeds of restaurants or the sales of prepared food at a convenience store. HB 1423 authorizes the city of Lexington to levy a 2% tax on the gross proceeds of sales of restaurants. HB 1565 authorizes the city of Starkville to levy a 1% tax on the gross proceeds sales from room rentals of hotels/motels and the gross proceeds of sales of restaurants. HB 1683 authorizes the city of Bay St. Louis to levy a 2% tax on the gross sales of bars and restaurants. HB 1706 extends the repeal date on the Jackson Convention and Visitors Bureau tax imposed on the gross proceeds of sales of restaurants and hotels/motels. HB 1742 authorizes the city of Waynesboro to impose a 1% tax on the gross proceeds of sales of bars and restaurants and on the sales of room rentals for hotels/motels and bed-and-breakfast establishments. SB 2185 authorizes the town of Carrollton to levy a 2% tax on the gross proceeds of sales of restaurants. SB 2853 authorizes the city of Saltillo to levy a 2% tax on the gross sales of room rentals of hotels/motels and on the gross proceeds of sales from restaurants. SB 2854 authorizes the city of Charleston to levy a 2% tax on the gross proceeds of sales of restaurants. SB 2896 authorizes the town of North Carrollton to levy a 2% tax on the gross proceeds of sales of restaurants. SB 2988 reenacts the city of Flowood tax on hotel/motel rooms. SB 3074 reenacts the city of Pascagoula tax on hotels, motels and bed-and-breakfast room rentals. SB 3086 extends the repeal date on the city of Amory tax on the gross sales of hotel and motel room rentals and on the gross proceeds of sales of restaurants. SB 3118 authorizes the city of Columbia to levy a 3% tax on the gross sales of hotel/motel room rentals and on the gross proceeds of sales of restaurants. SB 3122 authorizes the city of Pearl to expand the boundaries of the West Pearl Restaurant tax district. |