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Mississippi moves tax filing deadline to May 15

While taxpayers have gotten an extension until July 15 to file their federal taxes, they’ll only get a one-month reprieve from Mississippi.

The Mississippi Department of Revenue said it was “aware of the new pressures on the business community and state governments” due to the COVID-19 pandemic.

“We are committed to doing what we can to help provide relief and certainty to our taxpayers,” it said, announcing that the deadline for filing state taxes for individual income tax and corporate income tax has been bumped to May 15.

The Department of Revenue said it could only extend the deadline a month because it has to meet statutory requirements of a balanced budget as of the fiscal year end, which is June 30.

“The Department issued this extension with legislative input and input from our governor’s office,” the agency said, adding that it can’t move the deadline past the fiscal year without direction from the state legislature and the governor because it could create a $500 million deficit for the current fiscal year.

First quarter 2020 estimated tax payment has also been extended until May 15, and penalty and interest will not accrue on the extension period through that date. Witholding tax payments for the month of April are extended until then as well.

The extension does not apply to Sales Tax, Use Tax or any other tax types. These returned should be filed and paid on the normal due date.

Property taxes are assessed and collected at the local government levels in Mississippi. The Department of Revenue does not have the authority to extend any of these deadlines.

In addition, the Commissioner was granted approval to extend the following deadlines:

• Homestead Application Deadline – the homestead application deadline has been extended until May 1, 2020.

• Personal Property Renditions – the due date for Personal Property Renditions furnished by taxpayers to the County Tax Assessor has been extended for 30 days. They will be due on May 1, 2020. Since the due date is now May 1, 2020, the 10% increase in assessment penalty for failure to provide to Assessor will also be extended to May 1, 2020.

• Real and Personal Property Land Rolls Deadline – the due date for Real and Personal Land Rolls furnished from County Tax Assessors to Boards of Supervisors has been extended for 30 days. At the discretion of each county’s board of supervisors, the extension is available, if needed. The land rolls could be due on the first Monday in August which will be on August 3, 2020.

• Affordable Rental Housing Deadline – the due date for the owner of affordable rental housing to provide an accurate statement of the actual net operating income to the county tax assessor has been extended for 15 days. The statements will be due April 15, 2020.

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