Tax Effects From The Tax Cuts and Jobs Act

President Trump signed the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The legislation provided reduced tax rates for individuals and corporations, increased standard deduction for individuals and provided for repatriation of foreign income. Many of the aspects of the federal legislation will not affect Mississippi taxpayers as Mississippi has its own statutory provisions for many of the changes. Therefore, the impact on Mississippi revenues will not be as significant as many other states. 

Article Date:   1/28/2019    |   Expiration Date:   1/1/2029


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Recent News
Carroll County Moonshine Bust | 7/19/2019
CARROLL COUNTY, Miss. – On July 18, 2019, after an approximately three month investigation, Alcoholic Beverage Control Agents, with assistance from the Carroll County Sheriff’s Department, served two simultaneous search warrants near Vaiden, MS. The first search warrant was at 2423 CR 87, a suspected still location. When ABC agents and Carroll County Deputies approached the still site, the suspect, 68-year-old Jimmie Alexander, was actively working the still. Alexander was in the process of cooking, and had finished moonshine running from the still.
Starkville Parks and Recreation Tax | 7/15/2019
​An additional 1% tax on the sales of hotels and restaurants in the city of Starkville effective August 1, 2019.
Columbia Tourism Parks and Recreation Tax | 6/12/2019
A 3% tax on hotels and restaurants in the city of Columbia effective July 1, 2019.
Waynesboro Tourism Parks and Recreation Tax | 5/31/2019
A 1% tax on the gross proceeds of sales of hotels, motels and bed-and-breakfast establishments in the City of Waynesboro and a 1% tax on the gross proceeds of sales of beer, alcoholic beverages and all prepared food in restaurants and bars within the City. Effective July 1, 2019. 
Bolivar Co. resident pleads guilty to charges of Computer Fraud and Wire Fraud | 5/21/2019
CLEVELAND, MS- On March 31, 2015, Felicia Farrah Randle, 34, of 312 W. Carpenter St., Apt 167 Cleveland, MS, was indicted by a Bolivar County Grand Jury on one count of Computer Fraud §97-45-3 and one count of Wire Fraud §97-19-83, both charges stemming from an ongoing investigation conducted by the Criminal Investigation Division of the Mississippi Department of Revenue.
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