Mississippi Business Journal » tax collections

State’s tax collections come in under expectations

Associated Press — Sun, 05 May 2013 18:56:29 +0000

ACROSS MISSISSIPPI — Mississippi tax collections were $46 million, or 8.2 percent, below the estimate for the month of April. Kathy Waterbury, a spokeswoman for the state Department of Revenue, said the majority of drop may be due to timing of receipts and processing. “We won’t know for certain until all of the income tax [...]

The post State’s tax collections come in under expectations appeared first on Mississippi Business Journal.

SMEPA to buy power plant; county watching with concern

Associated Press — Wed, 15 Aug 2012 12:54:20 +0000

BATESVILLE — South Mississippi Electric Power Association plans to buy a Batesville power plant for almost $286 million, a spokeswoman said yesterday. SMEPA spokeswoman Sara Peterson said the utility won a bankruptcy auction Monday to buy the assets of LSP Energy. Hattiesburg-based SMEPA generates and transmits power to 11 cooperatives in southern and western Mississippi. [...]

The post SMEPA to buy power plant; county watching with concern appeared first on Mississippi Business Journal.

Public schools to ask for $320M increase to 2014 budget

Associated Press — Fri, 20 Jul 2012 15:15:55 +0000

JACKSON — Mississippi’s public school system will seek an additional $320 million for the 2014 budget year, according to figures released yesterday. Each year, the state Board of Education must compute the amount called for under the state’s kindergarten through grade 12 funding formula, called the Mississippi Adequate Education Program. Under the 1997 law that [...]

The post Public schools to ask for $320M increase to 2014 budget appeared first on Mississippi Business Journal.

Coast city must make cuts; facing multi-million-dollar deficit

Associated Press — Thu, 19 Jul 2012 11:27:32 +0000

GULFPORT — Gulfport city officials are being told they are going to have to make millions of dollars in spending cuts. Gulfport is on track to end this fiscal year with a $1 million deficit that could climb to $4 million in 2013, finance director Mike Necaise said. The problems include revenue shortfalls and increased [...]

The post Coast city must make cuts; facing multi-million-dollar deficit appeared first on Mississippi Business Journal.

Valley State laying off staff due to state budget cuts

Associated Press — Thu, 14 Jun 2012 15:00:17 +0000

ITTA BENA — Mississippi Valley State University is laying off about 4 percent of its staff as a response to continued state budget cuts. Spokeswoman TaRessa Stoval tells The Greenwood Commonwealth the 21 employees being laid off include clerical personnel, service personnel and mid-level managers. The cuts take effect June 30. She says the affected [...]

The post Valley State laying off staff due to state budget cuts appeared first on Mississippi Business Journal.

Capital City residents to pay more taxes to support schools

Associated Press — Tue, 12 Jun 2012 15:10:58 +0000

JACKSON — Jackson residents will soon pay more in taxes supporting the city’s school district. When 81 percent of voters in 2006 approved a $150 million bond issue to build more schools and improve others, it meant they were willing to have property taxes raised to pay that debt. But city leaders didn’t raise taxes [...]

The post Capital City residents to pay more taxes to support schools appeared first on Mississippi Business Journal.

State tax collections exceed forecast, but agencies still face budget cuts

Associated Press — Thu, 07 Jun 2012 20:19:53 +0000

ACROSS MISSISSIPPI — Mississippi tax collections are up, but lawmakers say state agencies still might face budget cuts during the 2013 session. Because of a sluggish economy, Mississippi still hasn’t recovered from the Great Recession. Tax collections remain below where they were during the fiscal year that ended June 30, 2008. The Northeast Mississippi Daily [...]

The post State tax collections exceed forecast, but agencies still face budget cuts appeared first on Mississippi Business Journal.

City sets new sales tax record, but officials still concerned

Associated Press — Mon, 07 May 2012 19:39:49 +0000

BROOKHAVEN — Brookhaven’s latest sales tax report showed record numbers, but some officials don’t want to get too excited just yet because the city is lagging behind some neighbors. The Daily Leader reports Brookhaven’s March sales tax report came in at $415,468.14. In March 2011, it was $400,912.36. Mayor Les Bumgarner says that’s the highest [...]

The post City sets new sales tax record, but officials still concerned appeared first on Mississippi Business Journal.

Auditor’s Office tells city to put tax money in escrow

Associated Press — Fri, 04 May 2012 14:57:40 +0000

HORN LAKE — The state Auditor’s Office says Horn Lake needs to place money collected from an unauthorized hotel-motel tax into an escrow account until the issue is resolved. City officials told The Commercial Appeal yesterday they have already been doing so. The issue stems from a $2 per night tax on hotel and motel [...]

The post Auditor’s Office tells city to put tax money in escrow appeared first on Mississippi Business Journal.

Legislature completes work on $5.6B state budget

Associated Press — Tue, 01 May 2012 15:34:20 +0000

JACKSON — Mississippi lawmakers have completed their part of the state budget process, passing a final batch of appropriations bills. The overall $5.6 billion budget is for fiscal 2013, which begins July 1. The House and Senate yesterday passed bills giving funds to the Mississippi Development Authority, the Department of Finance and Administration, and the [...]

The post Legislature completes work on $5.6B state budget appeared first on Mississippi Business Journal.