Posts Tagged ‘tax collections’

City sets new sales tax record, but officials still concerned

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 […] [...]

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

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 […] [...]

Legislature completes work on $5.6B state budget

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 […] [...]

Delta community collects $100K to pay IRS tax lien

METCALFE — The town of Metcalfe has collected $100,000 from a bonding company and will use the money to pay on a tax lien imposed by the Internal Revenue Service. The town sued former mayor Shirley Allen, former town clerk Brenda Gibbs and several former and current aldermen who served between 1999-2009 to recoup money […] [...]

Gov. Bryant revises his proposed state budget

JACKSON — Gov. Phil Bryant is revising his state budget for the year that begins July 1. In his new plan, released yesterday, the Republican no longer asks local school districts to dig into their own financial reserves to offset state funding cuts. Instead, he proposes giving elementary and secondary schools, community colleges and universities […] [...]

State House passes inventory tax legislation

JACKSON — Businesses that pay inventory tax would get a financial break under a bill making its way through the Mississippi Legislature, where the issue has stalled in the past several years. Supporters say the plan could spur economic growth by helping small businesses keep more of their own money that they could use to […] [...]

House, Senate working on separate budget proposals

JACKSON — The Mississippi House and Senate are working on separate budget proposals, and they would both slightly increase the funding for public schools in the coming year. There are some other differences in the ways the two chambers propose to pay for state government during the fiscal year that begins July 1. The Senate […] [...]

Budget committee adds $99M to current-year budget; $130M to next year

JACKSON — Citing better-than-expected tax collections in recent months, Mississippi lawmakers are increasing the pool of money available for the state to spend during the current and coming budget years. The Joint Legislative Budget Committee voted yesterday to add about $99 million to the budget for the current year, which ends June 30, and about […] [...]

Delta town hoping to reach bond settlement to pay IRS

METCALFE — The city of Metcalfe hopes to reach a settlement with a bonding company as part of its plan to erase a tax lien imposed by the Internal Revenue Service. The Delta Democrat Times reports aldermen this past week authorized city attorney Bennie L. Richard to settle the lawsuit. The town sued former mayor […] [...]

Capital City sees tax collections rise during fourth quarter

JACKSON — An encouraging sign for the city of Jackson’s economy is the $256,000 rise in sales taxes in the last quarter over the same period in 2010. The numbers primarily reflect a strong holiday season for retailers, but business leaders said they’re cautiously optimistic that gains could continue into this year. “Across the retail […] [...]

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