General Information
This tax is imposed on every person or company who acquires indebtedness secured by tangible personal property located in Mississippi. Total amount of indebtedness includes principal, service charges, interest, insurance, refinanced loans and all other amounts that become a part of the face of the instrument that the debtor is required to pay.
Not Taxable:
- Securities held representing loans for the payment of wholesale sales price;
- Securities held representing transactions known as "floor plan;"
- General merchandise dealers taking securities on sales of their own property;
- Loans secured by signature or real estate only; and loans secured by cotton, cottonseed, or other agricultural products.
Registration and Online Filing
Taxpayers can use the Mississippi Department of Revenue's Taxpayer Access Point (TAP) to submit encrypted registrations, file encrypted reports, and make secure encrypted electronic payments for Finance Company Privilege taxes.
To register for TAP access, navigate to the TAP login page and click on the "Sign Up" button located on the top navigation bar.
Due Dates
| January - March | Return and Payment due April 20th |
| April - June | Return and Payment due July 20th |
| July - September | Return and Payment due October 20th |
| October - December | Return and Payment due January 20th |
Laws and Regulations
The following tax laws administered by the Mississippi Department of Revenue may be found at Mississippi Code at Lexis Publishing.
- Finance Company Privilege Tax - Mississippi Annotated Code, Title 27, Chapter 21 (27-1-1)