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Tag Archives: Sales Tax

S&P: State in top 10 in U.S. in sales tax dependency

ACROSS MISSISSIPPI — Mississippi is one of 10 states most reliant on sales taxes as a share of revenue, according to a new Standard & Poor’s report that says that such states may be particularly susceptible to an ever-widening income gap dragging down state tax revenues. Analysts with the credit rating agency believe rising inequality is also stunting overall economic ...

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PHIL HARDWICK: Sales tax collections as an economic indicator

Small business makes a substantial contribution to the economic health of cities in Mississippi. Small businesses not only provide jobs, their sales tax collections are a significant source of revenue for their communities. That makes them economic development engines. Although the term “economic development” has no standard definition, it is generally agreed that economic development is “the process of increasing ...

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Presley alerts farmers to new sales tax break on energy bills

JACKSON — Public Service Commissioner Brandon Presley is notifying agricultural businesses in Mississippi of a change in tax law that may lower their utility bills. The change, which went into effect July 1, exempts certain agricultural business from being charged state sales tax on their energy bills, particularly bills for electric and natural gas service. The new exemption applies where ...

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Ford, Perry chosen to manage Capitol City's new tax

JACKSON — A former speaker of the Mississippi House and a prominent Republican will help oversee how the city of Jackson spends money generated by a 1 percent sales tax that took effect earlier this year. The Clarion-Ledger reports that former Speaker Tim Ford and Hinds County Republican chairman Pete Perry will serve on a board that will develop a ...

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Study: Mississippi has highest sales tax rate in U.S.

BERWYN, Pa. — According to the yearly sales tax rate study issued today by Vertex Inc., the number of sales and use tax rate changes in the U.S. for year 2013 was 609, up significantly from 2012 when there were 463 changes. The study found that Mississippi, along with Indiana, New Jersey, Rhode Island and Tennessee, have the highest sales ...

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Lawmakers say no to cities' request for new sales tax

It appears two Mississippi cities will not receive authority to enact a new sales tax. A Senate chairman said Friday that Mississippi lawmakers won’t authorize Hattiesburg or Greenville to set a 1 percent local sales tax, as the two cities requested. “We’re not going to do that,” Local and Private Committee Chairman Perry Lee, R-Mendenhall, told The Associated Press. Legislative ...

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Senate approves sales tax break for outdoor enthusiasts

JACKSON — The Senate has passed a sales tax holiday to encourage sportsmen to purchase firearms and hunting supplies in Mississippi. Lt. Gov. Tate Reeves says Senate Bill 2425 gives sports enthusiasts a sales tax break on firearms, ammunition, hunting supplies and fishing supplies purchased the first weekend of September. Louisiana has a similar holiday. “This tax break is for ...

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Voters overwhelmingly approve new sales tax

JACKSON — City of Jackson voters have overwhelmingly approved a one percent sales tax in what city leaders hope will represent a turning point in their push to reverse decades of urban decay. With 97 percent of the precincts reporting yesterday evening, The Clarion-Ledger reports some 90 percent of voters had voted in favor of the tax. Mayor Chokwe Lumumba ...

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