Shoppers in Mississippi will once again get a break on the back to school shopping with the annual Sales Tax Holiday.Beginning Friday, July 28 at 12:01 AM, shoppers in the Magnolia State won't have to pay sales tax on certain clothing and footwear items... Read More.
Several new laws are taking effect in Mississippi on Friday, which is also the first day of the new state budget year.Teachers and assistant teachers will get pay raises.The state will start a four-year reduction of its income tax.Mississippi is becoming the final state... Read More.
The Mississippi Legislature has sent Governor Reeves the largest tax cut in state history. The bill would trim the state income tax to a single four per cent bracket over a four-year period. Mississippi currently has tax brackets of four and five per cent. ... Read More.
The Mississippi Senate has voted in favor of a tax relief bill which includes a six-month suspension of the state fuel tax to help lower gas prices. That was added to the Senate’s original proposal which reduces the state income tax, provides a tax... Read More.
A small part of what we’re paying for gas is the state fuel tax of 18.4 cents per gallon. And Lt. Governor Delbert Hosemann says that’s a tax we could do without—for six months. He’s proposing suspending the tax as Mississippi and the rest... Read More.
Mississippi Gov. Tate Reeves says he's not ruling out a special legislative session to push for eliminating the income tax if the House and Senate reach an impasse.The two chambers are advancing different versions of tax cut bills.They need a single plan to send... Read More.
Some senators argued it was too much while some said it didn't go far enough. But the vote Wednesday was 40 to 11 to pass a plan to cut taxes in Mississippi. The bill would phase out the four per cent income tax bracket... Read More.
Governor Reeves is making it clear he favors elimination of the state income tax. But he's not ready to fully support the House plan which would phase out the income tax because it also includes tax increases. Reeves says there are "pieces" of the... Read More.
The Tax Free Weekend has started. According to the Mississippi Department of Revenue this sales tax holiday is from 12:01am today, Friday July 30th, and runs till midnight on July 31st. Any clothing item or shoes under $100. is tax free as are school... Read More.
Mississippi SBA is offering a tax credit webinar. According to the SBA "many small businesses can still claim thousands of dollars in 2020 tax relief based on COVID-related shutdowns and disruptions. You may be eligible for 2020 employee retention tax credits of up to... Read More.
The IRS will delay the traditional April 15 tax filing due date until May 17 to cope with added duties and provide Americans more flexibility, according to a House committee. The IRS and Treasury did not immediately respond to a request for comment Wednesday.... Read More.
The Mississippi House is backing away from a proposal for a statewide election on increasing gasoline and diesel fuel taxes. The idea was to generate more money for improvements to state highways and local roads. House Bill 1364 died Wednesday when the House did... Read More.