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House panel approves small bump in sales tax money to cities

JACKSONtax — Mississippi’s nearly 300 cities and towns could get a little more sales tax money under a proposal lawmakers are considering.

House Bill 1110 was passed Tuesday by the House Ways and Means Committee and appears headed to the full House.

Right now, cities get 18.5 percent of the 7-cent cent sales tax collected inside their boundaries. The bill would increase that to 19.5 percent. That could be worth about $20 million more per year in sales tax money to all the cities combined.

Cities have been trying to win approval to impose their own additional penny of sales tax, but lawmakers have consistently rejected that proposal. An additional penny would yield more than 14 times as much money as the small increase lawmakers are proposing.

 

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