Posts Tagged ‘taxes’

Bill to renew Mississippi tourism sale tax rebates in home stretch

by Published: March 21,2014

Tags: Business, Mississippi, Politics, taxes

A proposed three-year renewal of Mississippi’s tourism incentives includes a provision designed to spur development of a convention center hotel in Jackson and perhaps Biloxi. Convention hotels would be eligible for sales tax rebate of up to 80 percent over 15 years under two conditions: the properties are built within 1,000 feet of an existing […] [...]

Mississippi Supreme Court casino ruling opens door to spreading tax credits to affiliates

Look for gaming operators and other corporate entities in Mississippi to file amended income tax returns based on a February state Supreme Court ruling that Isle of Capri Casinos can spread its tax credits among affiliate operations. The court ruled against the state Department of Revenue in its appeal of a 2012 Harrison County Chancery […] [...]

Uniformity eludes states’ multistate business taxing methods

by Published: February 17,2014

Tags: Business, Equifax, Mississippi, taxes

Mississippi is an “all or nothing” state when it comes to designating the source of taxing the revenue a multistate corporation makes through the sales of services. Here’s an explanation from attorney Richard Henchman, VP of legal & sate projects for The Tax Foundation, based in Washington, D.C.: “The historical approach is Cost of Performance […] [...]

Business tax bills seek limits on DOR in taxing options

by Published: February 17,2014

Tags: Business, Department of Revenue, Mississippi, taxes

Some members of the Mississippi Legislature fear last summer’s state Supreme Court ruling that bumped the one-year Mississippi tax bill of Atlanta’s Equifax Credit Information Services from zero to over $700,000 will tarnish the state’s “business friendly reputation.” To undo the perceived damage, two Republican-sponsored bills designed to make it harder for the state to […] [...]

TAXES — It’s time for businesses of all sizes to start gathering records before filing

by Published: January 10,2014

Tags: accounting, Business, IRS, law, Mississippi, taxes

It’s a new year and time to get down to the nuts-and-bolts of tax season. Best advice? IRS spokesperson Dee Harris Stepter said, “Of course, what everyone should be doing is getting their records together so they can be ready to file.” The IRS will begin accepting 2013 business tax returns on Jan. 13. That […] [...]

Legal fees can grow quickly for cities

by Published: January 10,2014

Tags: finances, lawyers, Mississippi, money, Ocean Springs, taxes, Tupelo

With attorneys commonly charging $100 to $150 per hour, it can take a big bite out of a city’s finances for legal fees, especially for cities that have been involved in annexation battles. In the 2013 calendar year, the City of Biloxi paid $581,741 to one law firm, Page, Mannino, Peresich & McDermott, PLLC. Biloxi […] [...]

Mississippi Film Office celebrates milestone of 40 years in business

by Published: November 22,2013

Tags: Business, film, Mississippi, taxes, tourism

This year marks the 40th anniversary of the Mississippi Film Office, created by Gov. Bill Waller in 1973 to promote the industry in the state. As 2013 winds down, there is a movie about James Brown (Get on Up) being filming in Natchez, and another, The Sound and the Fury directed by James Franco, is […] [...]

SCOTT: As the taxes turn

by Published: August 2,2013

Tags: HORNE LLP, John Scott, taxes

One of the notable changes in 21st century living is the decline of that classic daytime TV staple: The soap opera. While a few still hold on, many such as “As the World Turns” and “The Guiding Light” have gone the way of the dinosaur. These were longtime favorites of viewers and advertisers, but they […] [...]

CRAWFORD: Is your favorite tax break safe?

by Published: July 19,2013

Tags: Bill Crawford, tax breaks, taxes

Have you asked your senators to save your favorite tax break? Senate Finance Committee Chairman Max Baucus (D-Montana) and Ranking Member Orrin Hatch (R-Utah) have given senators until July 26th to tell them what tax breaks need to be saved as they begin writing tax reform legislation. In a letter to colleagues late last month, […] [...]

SCOTT: Several important post-April tax developments

As another year’s tax day filing deadline came and went, several interesting, and potentially significant, tax-related developments surfaced that have a direct or indirect impact on us here in Mississippi. One development took place next door in Louisiana, another here, while the third emanates from Washington, D.C. First, in Baton Rouge in early April, Gov. […] [...]

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