Mississippi will follow the federal extended due date of November 1, 2021 to file certain income tax returns for victims of Hurricane Ida.
2020 Hurricane Ida Filing Extension.
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Effective July 1, 2021, the NSM Fee will increase from 1.71 cents for each NSM cigarette to 1.81 cents for each NSM cigarette. This will result in an increase of $.10 per carton.
The 2021 Sales Tax Holiday takes place between 12:01 A.M. Friday, July 30, 2021 and 12:00 Midnight Saturday, July 31, 2021.
The 2021 Second Amendment Sales Tax Holiday takes place between 12:01 A.M. Friday, August 27, 2021 and 12:00 Midnight Sunday, August 29, 2021.
Effective immediately, Mississippi law no longer requires taxpayers to submit accelerated payments for sales, use and withholding tax.
The Sardis Tourism Tax is no longer in effect as of July 1, 2021.
The Byhalia Tourism, Parks and Recreation Tax is no longer in effect as of July 1, 2021.
Effective March 16, 2021, the 25-year settling agreement between the State of Mississippi and Liggett and Myers Inc. has expired. The NSM Fee of $1.76 for each NSM cigarette will now be due on all cigarettes received from Liggett & Myers, Inc.
72-21-02 Notice to Tobacco Wholesalers Regarding Settling Manufacturers
The notice has been update to include language that will allow professional loggers to use the affidavit to receive the reduced rate.
In the 2020 legislative session, House Bill 1729 passed to amend The Children’s Promise Act. Beginning January 1, 2021, Miss. Code Ann. §27-7-22.41 provides that the aggregate amount of tax credits that may be allocated by the Department of Revenue to certain business enterprises making voluntary cash contributions to ECOs cannot exceed ten million dollars ($10,000,000) in a calendar year. For guidance on how the credits will be allocated, please see Notice 80-20-05 below.