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.
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