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Tag Archives: tax

BOBBY HARRISON: Gunn touts conservative groups’ support of transportation proposal

By BOBBY HARRISON Daily Journal House Speaker Philip Gunn, R-Clinton, said national conservative groups have endorsed his plan to decrease Mississippi’s tax on personal income and increase the levy on motor fuels – gasoline and diesel – to pay for transportation needs. Part of the speaker’s plan is to lower the income tax – funds that normally go for education, ...

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Mississippi tobacco tax increase remains up in the air

A pack of Marlboros at a convenience store near the Mississippi Capitol costs about $4.99, which includes tax. If the Legislature chooses one possible option for a cigarette tax increase, the same pack could run $5.31. For a person who smokes a pack a day, that’s a difference of nearly $115 every year. The push for a Mississippi tobacco tax ...

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Sanderson profits boosted by $37.5 million tax reduction

A 14 percent-point reduction in federal income tax boosted Sanderson Farms Inc.’s first fiscal quarter’s net income by $37.5 million, the Laurel-based poultry processor announced Wednesday after close of the Nasdaq stock market. Thanks to that tax liability reduction, the company reported in a release that net income was $51.2 million, or $2.24 per share, for the quarter compared with ...

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Analysis: Chairmen tamp down talk of big jump in tobacco tax

It’s been nearly a decade since a former tobacco lobbyist signed a law that increased the Mississippi’s state cigarette tax from 18 cents to 68 cents a pack. Now, about 20 health advocacy groups are starting to push for a tax increase of $1.50 a pack, plus “parallel” increases on chewing tobacco, during the 2018 legislative session. They say the ...

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Airbnb starts collecting 7 percent hotel tax in Mississippi

By JACK WEATHERLY Airbnb announced on Wednesday that effective Oct. 1 it began collecting from its member hosts a 7 percent hotel tax and will remit it the state of Mississippi. The announcement came two days after the state Department of Revenue revised its regulation on such accommodations to clarify with language from state law 41-49-3 in which “hotel” is defined ...

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BILL CRAWFORD — Is out-of-state student growth good for Mississippi taxpayers?

USM, seeking students, reduces out-of-state tuition,” read the recent newspaper headline.    “The idea is to reverse a 2,000-student enrollment dip by pricing a USM education below some public universities in nearby states, and attract enough high-schoolers from Houston, Dallas and San Antonio to raise overall revenue,” explained the Clarion-Ledger story. USM cut annual tuition for out-of-state students by 40%, ...

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Mississippi’s Hood asks court to legalize online sales tax

Mississippi’s attorney general is signing up for a court challenge to overturn a federal ban of online sales taxes. Jim Hood said Monday that he and 10 other attorneys general have filed a friend-of-the-court brief asking the U.S. Supreme Court to overturn a 1992 decision in a North Dakota case that bars states from collecting sales taxes on internet purchases. ...

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Houston voters approve tourism tax

Houston voters have approved a tourism tax by a roughly 50-vote margin. The Northeast Mississippi Daily Journal reports voters cast 435 ballots Tuesday for the proposed 2 percent tax and 196 voted against it for a 68.93 percent margin for the measure. The revenue referendum needed 60 percent approval to pass. This was Houston’s second attempt to pass the tax ...

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State’s failure to refill prepaid college fund, tapping of abandoned property fund worry Treasurer

By TED CARTER Two approaches Mississippi legislators took to help make fiscal ends meet in the 2016 session are especially troublesome to Treasurer Lynn Fitch. One is a refusal to replenish the Mississippi Prepaid Affordable College Tuition Fund to cover a $127 million shortfall the fund incurred before Fitch suspended new sign-ups for 18 months. Fitch reopened the fund on Oct. ...

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Fate of state tax cuts in conference committee hands

By TED CARTER Whatever chance a tax cut for either Mississippi’s businesses or individuals has this legislative session will be decided by a six-member conference committee appointed by House and Senate leaders. Adding to the difficulties of choices before the conference is a growing tax collections shortfall that represents collections that fell approximately $20 million below projections for each month since ...

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