Railroad and Public Service Corporations
Mississippi Code Annotated §27-35-301 through §27-35-343
Airlines
Mississippi Code Annotated §27-35-701 through §27-35-711
While the valuation of most property originates through the Tax Assessor of the various Mississippi counties, the Department of Revenue is responsible for annually determining the valuation of property belonging to railroads and other public service corporations. Property valuations, once determined by the Department, are sent to the various counties in which the property is located, and the resulting property taxes are collected by the county Tax Collector.
Types of companies valued for property tax purposes by the Department include:
• Electric Utilities,
• Natural Gas Distribution Systems,
• Interstate Natural Gas Pipeline Systems,
• Interstate Liquid Pipeline Systems,
• Railroads,
• Telephone Companies with property in more than six counties.
• Airlines with regularly scheduled arrivals and departures.
Timeline:
• Annual Reports due by April 1st, annually, or under approved extension, April 20th.
• Assessments are issued in late May.
• Apportionment of Value Schedules due to the Department by mid-June (within 20 days of issuance of Assessment Order).
• Public Service Assessment Rolls issued to the various counties by July 1st.
• Counties generate bills for Public Service Roll assessment in December.
• Taxes are due by the following February 1st.
Private Car Lines (Railcar In Lieu)
Mississippi Code Annotated §27-35-501 through §27-35-531
The Department also annually assesses railroad cars that are operated in the State of Mississippi. Under this program, the Department assesses tax, collects the tax, and then disburses those tax collections out to the various counties.
Timeline
• Annual Reports are due by April 1st, annually, or under approved extension, May 1st.
• Tax assessments are issued in October, annually.
• The resulting tax is due on or before December 1st, annually.
• Railcar In Lieu taxes are disbursed to counties the following March.
Nuclear In Lieu Taxes
Mississippi Code Annotated §27-35-309(3)
Taxation of the Grand Gulf Nuclear Station in Port Gibson, MS (Claiborne County, MS) for property tax purposes is another responsibility of the Department of Revenue. Under Mississippi law, the Department determines the assessed value of the nuclear facility annually, however, the actual tax computation for the Grand Gulf facility is 2% of its assessed value, or $20,000,000, whichever is greater. The Department also is responsible for collecting the resulting tax and disbursing those collections across the areas served by the Grand Gulf Nuclear Station.
As with most other property taxes, the nuclear in lieu tax is due by February 1 of the year after assessment. The Department disburses nuclear in lieu tax collections in mid-February each year in accordance with statute.
Tennessee Valley Authority In Lieu
Mississippi Code Annotated §27-37-301 through §27-37-307
The Tennessee Valley Authority (TVA) is a public power company owned by the U.S. Government. While government property is typically exempt from property taxes, federal law provides that TVA make “tax equivalent” payments to the various state and county jurisdictions where they own and operate property. The Department of Revenue is charged with receiving these “tax equivalent” payments and disbursing these collections as directed by statute.
Tax payments are received throughout TVA’s fiscal year, and the Department disburses TVA in lieu tax collections in December each year in accordance with statute.
Mississippi Telecommunications Tax Reform Act
Mississippi Code Annotated §27-38-1 through §27-38-9
Under Mississippi law, certain providers of telecommunication services can receive a partial refund of up to 50% of the property taxes paid on assets used to provide service. To qualify:
• The service provided must be subject to sales tax under MCA Section 27-65-19(1)(d),
• The provider must operate in more than six counties,
• The provider’s assets must be taxed as Class IV property, as defined in Section 112, Mississippi Constitution of 1890.
Refund claims must be submitted by February 15th of each year and must include:
• Form 60-980: Telecommunication Ad Valorem Refund Certification
• Form 60-980A: Telecommunication Ad Valorem Refund Documentation
• Copies of all tax bills for which a refund is requested
• Copies of check or payment receipt for all tax bills for which a refund is requested.
Refunds are issued on March 15th annually.