2014 Legislation

 

Economic Incentives  

Tax Incentive Information

Mississippi Development Authority

 

  • HB 785  Authorizes an income tax credit for costs paid to relocate national or regional headquarters to this state.
  • SB 2023  Provides an income tax jobs credit for certain warehousing activities
  • SB 2373 Adds municipal airports to the definition of public entity for New Markets Credit
  • SB 2374 Motion Picture Incentive Act adds fringe benefits to rebate calculations
  • SB 2376 Revises the definition of economic development project tax incentives

Income Taxes

Individual Income Tax

Corporate / Pass Through Entity

Withholding

  • HB 799 Revises the use of alternative apportionment and combined reporting for corporate income tax
  • SB 2065 Excludes deferred gains and deferred income from Franchise Tax
  • SB 2628 Exempts savings ad loans from Franchise Tax
  • SB 2933 Revises alternative corporate income tax apportionment for pharmaceutical suppliers

Sales and Use Taxes

 

Sales and Use Tax   

  • HB 260  Exempts finance charges from the definition of gross proceeds of sales for sales tax purposes and exempts certain engineering charges from contractor's tax
  • HB 787 Exempts sales of durable medical equipment and home medical supplies, exempts, sales to the Mississippi Diabetes Foundation and Juvenile Diabetes Research Foundations; exempts from sales tax the sales of soil amendments sold to commercial plant nurseries who make only wholesale sales
  • HB 1555 Exempts sales of aircraft used in oil and natural gas production
  • SB 2425  Creates a Sportsman's Sales Tax Holiday for a 48-hour period beginning on the first Friday of September
  • SB 2921 Exempts from sales taxes the sales to Mississippi Children's Museum,sales of non-perishable food sold to charitable organizations, sales to the United Way of Pine Belt Region and parking at livestock facilities
  • SB 2934 Exempt sales tax on certain truck tractors
  • SB 2972 Exempts from sales tax guided services on navigable water

Motor Vehicles, Tags and Titles        

Available Specialty Plates

Motor Vehicle Licensing              Titles

  • SB 2296  Provides that IFTA follow interest rate charged on underpaid fuel tax per the International Fuel Tax Agreement
  • SB 2472  Authorizes new specialty license plates

ABC and Beer   

Alcoholic Beverage Control

  • HB 801 Authorizes package retailers to sample products and to hold tasting events approved by the ABC
  • HB 836 Allows ABC permits in Pearl River Valley Water Supply District and certain game reserves
  • SB 2554 Creates an ABC events permit

Ad Valorem / Homestead 

Property Taxes 

  • HB 37  Local taxing units must publish certain information following property reappraisal
  • HB 1165  Increases the amount of homestead exemption for disabled veterans

Other                   

 

 

  • HB 487  Creates a Statewide Tax Lien Registry effective January 1, 2015.
  • HB 787 Exempts from the municipal sales tax  the wholesale sales of beer and alcohol, and removes tax on the delivery of tangible personal property 
  • HB 1590  Changes how Liquefied Natural Gas is measured for motor fuel tax purposes
  • SB 2024  Allows insurance companies to make estimated payments of premium tax.  
  • SB 2975 Revises Oil Severance Tax distribution

Special Levies            

 

Special City and County Levies (also known as Tourism Taxes)

  • HB 417  City of Ripley extend repealer on hotels, motels and restaurants tax
  • HB 1444 Town of Sardis extend repealer on hotels, motels and restaurants tax
  • HB 1448 City of Brandon extend repealer on tax on sales of food and drink at restaurants
  • HB 1504 City of Senatobia authorize hotels, motels and restaurants tax
  • HB 1507 City of Brookhaven authorize tax on motels, hotels, bed and breakfast establishments
  • HB 1586 Town of Como authorize hotels, motels and restaurants tax
  • HB1625 Waynesboro extend repealer on recreational facilities tax
  • HB 1642 Hattiesburg extend repealer on hotel and motel tax
  • SB 2919 City of Amory authorize hotels, motels and restaurants tax
  • SB 2925 City of So ut haven remove repeal date on restaurant tax
  • SB 2956 City of McComb delete repeal date on tourism tax
  • SB 2957 Washington County extend repeal date on hotel motel tax
  • SB 2963 City of Pascagoula extend repeal date on hotel motel tax
  • SB 2964 City of Hernando authorize tax on restaurants, hotels, and motels
  • SB 2990 Flowood authorize tax on hotels and motels
  • SB 2994  Byram authorized tax on room rentals, hotels and motels