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Tag Archives: money

Reeves proposes more income tax cuts, bumping total to $550M

JACKSON — Lt. Gov. Tate Reeves says he wants to cut income taxes by a larger amount than he has previously proposed. The Republican says Monday he wants to increase the size of his tax cut to $550 million over 15 years. That would include $300 million in income tax cuts, eliminating the first $350 of income tax liability for ...

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Senate backs convention to mandate federal balanced budget

JACKSON — State senators want to sign Mississippi onto a plan for a nationwide constitutional convention that would force the federal government to balance its budget and require states’ permission to increase the national debt. The Senate voted 30-18 Wednesday to pass Senate Bill 2389, seeking a convention. The measure moves to the House for more debate. The plan, promoted ...

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State agriculture values set to top $7B for third year

Despite low prices for many commodities, the overall projected totals for Mississippi’s crop values should top $7 billion for the third straight year and essentially match the record set in 2013. John Michael Riley, agricultural economist with the Mississippi State University Extension Service, said his preliminary estimate of 2014’s agricultural production values, excluding government payments, is over $7.7 billion. “The ...

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State certifies school referendum for 2015 ballot

JACKSON — Voters in November 2015 will decide a referendum to write a funding guarantee for “an adequate and efficient system of free public schools” into Mississippi’s constitution. Secretary of State Delbert Hosemann said Friday that of 121,691 signatures supporters submitted in October, 116,570 are of valid, registered voters. That’s 9,000 more than the 107,216 required statewide What’s called initiative ...

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Mississippi budget writers to set FY16 revenue estimate

Top Mississippi lawmakers are preparing to estimate how much money the state can spend during the coming budget year. The Joint Legislative Budget Committee meets Monday afternoon in Jackson. Members will hear experts’ assessment of the state economy. Then, they will set a revenue estimate that will be used as a basis for budget writing. It is an educated guess ...

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JRA plans image makeover, hires crisis manager

The Jackson Redevelopment Authority has conceded it has an image problem and is getting professional help to fix it. The agency widely known for the low priority it puts on transparency wants a makeover in public perception. It’s hired Yellow Brick Media Concepts of Jackson to provide it. The board received a proposal from Yellow Brick principal Kathy Times for ...

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MDA's Entrepreneur Center in new first floor space in Woolfolk

The Mississippi Development Authority’s Entrepreneur Center has relocated to the Woolfolk Building’s first-floor in a move designed to make the Center and its resources more accessible to people who want to get a business off the ground. » READ MORE: Entrepreneur Center: Helping you find your corner of commerce Project managers will work from cubicles just inside the new office space. ...

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DOR: State’s general fund stands to lose more than $100 million annually through the new tax apportionment rules

A bill to limit how and when the Mississippi Department of Revenue can use a market-based taxing method in calculating the tax bills of multistate businesses in the state passed the Legislature Tuesday morning. Legislators also put limits on the DOR’s authority to demand multistate companies provide combined tax returns. The DOR has insisted on authority to seek combined returns ...

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BILL CRAWFORD: Your tax dollars used for politicians’ self-promotion

How many of your tax dollars, if any, should be spent for self-promotion by elected officials? It’s quite common when new governors get elected to see their names pop up on all kinds of things: Welcome to Mississippi signs on the highways; state maps; tourism and economic development promotion materials; and more. But, the issue is much bigger than that. ...

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Business inventory tax, proclaimed as a jobs creation tool, projected to cost state $7M this year, then $126M in FY 2017

With fiscal 2014’s arrival, Mississippi’s businesses can begin enjoying the rewards of a hard-fought victory achieved in 2012 with passage of a phased-in state income tax credits for businesses that pay inventory taxes to cities and counties. Legislative wrangling ended with establishing the tax credits in place of an actual end to the inventory tax, an outcome cities, counties and ...

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