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Tag Archives: taxes

Many other states have increased gas tax for transportation

Mississippi is not the only state struggling with transportation needs, according to a report by the Legislature’s Performance Evaluation and Expenditure Review Committee. The report released this week cites the National Conference of State Legislatures as saying states have been in “a near constant state of crisis for about a decade” in terms of funding for transportation needs. The report ...

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Tax break might mean relief for craft brewers

By BECKY GILLETTE Here’s news you can lift a mug and do a “cheers” to. In late December the U.S. Congress passed a two-year version of the Craft Beverage Modernization and Tax Reform Act, which cuts the federal excise tax for craft breweries in half from $7/barrel to $3.50/barrel for domestic brewers producing less than two million barrels annually. The ...

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JOE BABB: Political ramifications of tax reform still unknown

President Reagan signed the Tax Reform Act of 1986 on Oct. 22 of that year. The bill, which enjoyed wide bipartisan support, became law 323 days after its initial introduction in the House. The Tax Cuts and Jobs Act of 2017, the largest tax code overhaul since 1986, was signed just 42 days after it was introduced and did not ...

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House votes to give tax credit for college graduates

By BOBBY HARRISON / Daily Journal The House, with no dissenting votes, approved a bill Wednesday to exempt college graduates working in the state from having to pay a state income tax for three years. The bill, authored by Rep. Trey Lamar, R-Senatobia, is being touted as an effort to address what some believe is “a brain drain” of young ...

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State revenue collections continue modest rebound

By BOBBY HARRISON / Daily Journal JACKSON – State revenue collections, which have been subpar in recent years, continue to make a modest rebound. Revenue collections through the month of January for the current fiscal year are $52.1 million, or 1.8 percent, above collections during the same time period for the last fiscal year, according to a report compiled and ...

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Mississippi less taxing for retirees

By BECKY GILLETTE Mississippi has been named the No. 4 most-friendly tax state for retirees by Kiplinger’s Personal Finance in the recently released 2017 Retire Tax Map which looks at the most and least tax-friendly states for retirees across all 50 states. Sandra Block, senior editor, Kiplinger’s Personal Finance, said one reason Mississippi scores so high for being tax friendly ...

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Mississippi moves to tax internet sales, after long delay

Mississippi will start requiring some large online and mail-order retailers to collect taxes on sales made from outside the state beginning Dec. 1, even though the move could be unenforceable and trigger an immediate court challenge. The state Revenue Department filed notice Wednesday that it was enacting the rule, more than 10 months after proposing it. It’s part of a nationwide effort ...

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Mississippi tax collections decline at start of budget year

Mississippi tax collections were slightly worse during the first three months of the current budget year than they were the same time last year, an expert told lawmakers Wednesday. This appears to contradict earlier reports from the Legislative Budget Office and the Department of Revenue, which showed tax collections were 3.5 percent higher this July through September than they were ...

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State to collect taxes on online lodging rentals

By BOBBY HARRISON / Daily Journal  The Mississippi Department of Revenue will begin collecting Mississippi sales taxes and local tourism taxes on short-term lodging rentals made through such companies as Airbnb. Kathy Waterbury a spokeswoman for the Department of Revenue, confirmed Monday via email that a new regulation, which will be final Sept. 28, will tax short-term lodging rentals, such ...

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State revenue collections off to strong start

By BOBBY HARRISON / Daily Journal State revenue collections, which have been sluggish for the previous two fiscal years, are off to a strong start for the first two months of the new fiscal year. For July and August, revenue collections are $68.4 million or 10.5 percent above the amount collected during the same time period last year, according to ...

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