Mississippi will follow the federal extension due date of February 15, 2023, granted to victims of the water crisis beginning August 30, 2022. Taxpayers that reside, have a business or whose records are located in Hinds County have until February 15, 2023, to file individual income tax returns, corporate income and franchise tax returns, pass-through entity tax returns and quarterly estimated payments due between August 30, 2022, and February 15, 2023. Taxpayers located within this area that have a valid extension to file their 2021 tax returns will now have until February 15, 2023, to file the returns.
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House Bill 1691 of the 2022 Legislative Session was signed into law on April 14, 2022. This bill established an act to allow any partnership, S corporation or similar pass-through entity to elect to be taxed as an “electing passthrough entity” for state income tax purposes and to pay income tax at the entity level. Each owner, member, partner or shareholder of an electing pass-through entity shall report their pro rata or distributive share of the income from the electing pass-through entity and shall be allowed a credit against income taxes in an amount equal to his or her pro rata or distributive share of income tax paid by the electing pass-through entity for the corresponding taxable year. This bill is effective from and after January 1, 2022.
DOR is now accepting Medical Cannabis Dispensary Applications. Please visit www.dor.ms.gov/cannabis to apply.
Reminder: DOR will begin accepting Medical Cannabis Dispensary Applications on Tues, July 5, 2022, at 8 a.m. CDT. Potential applicants should visit www.dor.ms.gov/cannabis for more info. A Sales Tax Permit is required before submitting a Medical Cannabis Dispensary App.
The Mississippi Department of Revenue has released a video on our YouTube channel demonstrating how to submit a Medical Cannabis Dispensary Application on the Mississippi Medical Cannabis Program website.
The video can be viewed at https://www.dor.ms.gov/cannabis-videos. This video is for demonstrative purposes only.
The Mississippi Department of Revenue will begin accepting Medical Cannabis Dispensary Applications on Tuesday, July 5, 2022, 8:00 a.m. CST. All potential applicants should visit www.dor.ms.gov/cannabis for important information, including an updated checklist of requirements to assist in the registration process.
A Sales Tax Permit is required before submitting a Medical Cannabis Dispensary Application. If you plan to apply on or near July 5, 2022, but have not received a Sales Tax Permit, please submit a Sales Tax Permit Application immediately.
The following Medical Cannabis Sales and Excise Tax Regulations have been adopted:
Title 35.IV.03.01 – Wholesale Sales
Title 35.IV.04.11 – Medical Cannabis Establishments
Title 35.VIII.04.01 – Tax Rate, Fair Market Value, Returns and Payments
The Mississippi Department of Revenue has updated the Dispensary Checklist to include a required Affidavit for background checks.
The affidavit can be located on our Cannabis webpage under Application Forms. The Dispensary Regulations have also been updated regarding background checks. Please visit www.dor.ms.gov/cannabis for more information.
The Mississippi Department of Revenue has released a Medical Cannabis Dispensary checklist for applicants. A map of the cities and counties that opted-out of allowing dispensaries is also available.
Click the link www.dor.ms.gov/cannabis to view the updated information.