2015-Legislation


Please review the Mississippi Code and Mississippi Administrative Code​  when analyzing your tax responsibilities and requirements.

Economic Incentives

Tax Incentive Information 

SB 2273:  Removes the application deadline and extends the cut-off date for tax exemptions under the Growth and Prosperity Act.

SB 2658:  Extends the repeal date of the authority for the Mississippi Business Finance Corporation to issue bonds to finance economic development projects.

Income Tax

Individual Income Tax

Corporate and Franchise Tax 

HB 33:  Authorizes a tax credit for taxpayer that employ certain veterans.

HB 1134: Exempts certain income deposited in a catastrophe savings account.

SB 2589: Requires seller, rather than the buyer, to withhold for income taxes on gains realized from the sales of property by a nonresident.

Sales Tax

Sales and Use Tax

SB 2656  Exempts purchases made by the University of Mississippi Medical Center Research Development Foundation; Keep Mississippi Beautiful, Inc; Friends of Children's Hospital; Pinecrest Weekend Snackpacks for Kids of Corinth, Mississippi; and sales of hearing aids when prescribed by a licensed physician, audiologist, or hearing aid specialist.

SB 2832 Provides that costs for completing an oil or gas well are included in the 3-1/2% tax rate levied on the contract price or compensation received for drilling an oil and gas well.

Motor Vehicles and Titles

Tags and Titles​

HB 1000  Authorizes wholesalers of motor vehicles to purchase tags and to be designated agents.

HB 1171  Authorizes additional distinctive license plates.

Alcohol and Beer

ABC

Beer 

HB 1096  Authorizes temporary permits for performances at certain theatres.

HB 1132  Revises the definition of qualified resort area.

HB 1402  Deletes the repealer on statute authorizing retailer's permit to conduct tasting & sampling events.

SB 2071  Provides that light wine and beer may be seized and disposed of in the same manner as alcoholic beverages.

SB 2207 Reduces the Alcohol Purchase Fee paid by retailers when purchasing alcohol inventory.

Petroleum

Tax Information 

HB 443 Revises weights and measures for sale of natural gas motor fuel.

SB 2229 Re-enacts penalties for unlawful operation of commercial vehicles (PRISM program).

Property & Homestead

Tax Information 

SB 2003 Certain small municipalities may advertise budget hearings by posting notices rather than publication.

Other

HB 1630 Revises diversions of Gaming Tax

Local Governments

HB 1425 Extends repeal date on City of Grenada tourist and convention tax.

HB 1436  Authorizes Washington County to levy a special tax on real and personal property.

HB 1664  Extends repeal date on City of Starkville economic development, tourism & convention tax

HB 1672  Authorizes Jackson County to impose tax on hotels and motels.

SB 2359  Revise purposes for which gaming fees may be expended in City of D'Iberville.

SB 2835  Extends repeal date on City of Baldwyn tax on hotels, motels, restaurants and convenience stores.

SB 2904 Extends the repeal date on City of Pascagoula tourism tax.

SB 2910  Extends the repeal date on City of Jackson Convention and Visitors Bureau.

SB 2912 Authorizes the City of Houston to impose tax on hotels, motels and restaurants.

SB 2923  Extends the repeal date on Washington County tax on hotels and motels.

SB 2926 Authorizes the City of Vicksburg to impose a tax on hotels, motels and restaurants.​