Mississippi Reports & Information

NEWS & MEDIA

The Latest News from CTJ's Tax Justice Blog

• Quick Hits in State News: Will Pennsylvania Workers Be Paying Taxes to Employers? And More... - 10/2012
• Quick Hits in State News: Doomsday Clock in Maryland, Branstad Loophole in Iowa, and More! - 04/2012
• Are Amazon.com's Sales Tax Avoidance Days Coming to an End? - 03/2011



ITEP in the News

• Clarion Ledger: Corporations already evading Miss. state income tax - 12/2011
• Clarion Ledger: Time for new revenue? Tax advocates seek to 'balance' budget cuts - 01/2010



ITEP Numbers and Reports

• Who Pays? (Fourth Edition) - 01/2013
• Mississippi Economic Policy Center: Thank Taxes- Tax Day 2011 - 04/2011
• Mississippi Economic Policy Center: Investing for Growth, Enhancing Our Prospects: Tax Reform in Mississippi - 01/2008
• Mississippi Economic Policy Center: Putting the Pieces Together: A Taxpayer's Guide to the Mississippi Budget - 01/2007






RESOURCES




State Tax & Revenue Information

• Mississippi Tax Commission



Tax Expenditure Reports

• 2012: Tax Expenditure Report
• 2011: Tax Expenditure Report
• 2010: Tax Expenditure Report
• 2009: Tax Expenditure Report
• 2008: Tax Expenditure Report



State Statutes & Legislation

• Mississippi Code of 1972
• Search Recent Mississippi Legislation



State Tax Forms

• Mississippi Tax Forms





ORGANIZATIONS



• Mississippi Economic Policy Center

Mississippi
By the Numbers

Below is a snapshot of key features of Mississippi's tax system. (Scroll Down) State & Local Revenue (FY10) General Revenue, Own-Source (GROS): $15.0 billion General Revenue as a Share of Income: 16.6% Tax Revenue: $9.0 billion Tax Revenue as Share of income: 9.9% Personal Income Tax (Share of Tax Revenue): 15.1% (38 out of 51) Corporate Income Tax (Share of Tax Revenue): 3.5 % ( 14 out of 51) Sales & Excise Tax (Share of Tax Revenue): 46.7 % ( 11 out of 51) Property Tax (Share of Tax Revenue): 28.2 % ( 37 out of 51) Other Taxes (Share of Tax Revenue): 5.2 % (27 out of 51) Personal Income Tax Features (2012) Range of Tax Rates: 3% - 5% Standard Deduction: $2,300 ($4,600 for Married Couples) Personal Exemption: $6,000 (Extra $2,000 for Head of Household Filers) Dependent Exemption: $1,500 Earned Income Tax Credit (EITC): None Corporate Income Tax Features (2012) Range of Tax Rates: 3.00% - 5.00% Income Level at Which Top Rate Applies: $10,000 Combined Reporting: No Apportionment Factor (Payroll): 0% Apportionment Factor (Property): 0% Apportionment Factor (Sales): 100% Apportionment Note: Apportionment formula varies by type of business; single sales is required if no specific business formula is specified Sales Tax Features (2012) State Sales Tax Rate: 7.00% Average Local Sales Tax Rate: N/A Average Combined State & Local Sales Tax Rate: 7.00% State Sales Tax Treatment of Groceries: Taxed at regular rate with no offsetting relief Local Sales Tax Treatment of Groceries: N/A Number of Services Taxed: 72 out of 168 surveyed Streamlined Sales Tax Membership: No Sales tax holiday offered in 2012 Property Tax Features (2012) Provides a significant homestead credit. Levies a car tax. Other Tax & Revenue Features (2012) Gasoline Tax Rate (per gallon): $0.188 Diesel Tax Rate (per gallon): $0.188 Cigarette Tax Rate (per pack): $0.68 Estate or Inheritance Tax: No Net Lottery Sales Per Capita: N/A Tax Policy Oversight Tax Expenditure Report: Yes Tax Incidence Analysis Capability: Personal income tax only Last Updated October 4, 2012 Sources & Glossary