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Tag Archives: taxes

Town scrambling to get documents to IRS

METCALFE — Mayor Corey Holmes says Metcalfe has a July 31 deadline to give the Internal Revenue Service 11 years of bank statements and canceled checks, plus more documentation for the 12 months that ended June 30. He tells the Delta Democrat Times that town officials hope to beat that deadline by at least a week. The IRS says it ...

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Sales tax holiday returning for third time

ACROSS MISSISSIPPI — Mississippi’s sales tax holiday returns for the third year on the weekend of July 29-30, in time for back-to-school shopping. For 48 hours, between 12:01 a.m. Friday, July 29 and midnight Saturday, July 31, stores won’t collect the 7 percent sales tax on eligible items. The list remains the same as last year — basically clothing and ...

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Aldermen extend tax-abatement ordinance

OCEAN SPRINGS — The Ocean Springs Board of Aldermen has unanimously decided to extend the city’s tax-abatement ordinance until June 30, 2013. The ordinance provides an incentive for businesses to develop along portions of U.S. 90 and in downtown. The board also directed the city’s Planning Commission to identify additional locations where the tax abatement might serve useful. Alderman John ...

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Hood urges city to drop Nissan lawsuit

CANTON — The state Attorney General’s Office has asked a federal judge to dismiss a lawsuit filed by the City of Canton against Nissan of North America Inc. The Clarion-Ledger reports that the Attorney General’s Office says in its motion that state law prohibiting Canton from annexing the nearby Nissan plant does not violate the state constitution. “Roughly 10 years ...

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State ends fiscal year with money in the bank

JACKSON — State government ended the fiscal year June 30 with about $62 million in the bank. According to Lt. Gov. Phil Bryant, whose office announced the surplus for the month of June, the state collected $581 million in revenue, or 4.2 percent, above the projection. For the entire fiscal year, the state collected 2.2 percent more revenue than it ...

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City officials pushing tourism tax vote

MCCOMB — The City of McComb will include a notice in local water bills this month to remind voters of the tourism tax election on July 19. The Enterprise-Journal reports Mayor Whitney Rawlings hopes the proceeds of the motel tax can be used to complete the McComb Sports Park. A three-fifths majority vote — 60 percent — is required for ...

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Supreme Court to hear schools' Chevron tax appeal

PASCAGOULA — The Pascagoula School District will ask the Mississippi Supreme Court to throw out a 2007 state law that requires it to share future tax dollars generated from Chevron facilities with other school districts. A local judge upheld the constitutionality of the law. The Supreme Court is scheduled to hear the school district’s appeal today in Jackson. The law ...

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Paying a fair share of taxes only, well, fair

So, I heard that 45 percent of tax filers pay no federal income tax. NONE! 45 percent! Now, that makes me mad. After all, I pay a boat load of taxes every year. I don’t mind paying my fair share. I just want to make sure everyone else is anteing up, too. So, I began a search to find out ...

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State revenue collections miss May forecast

JACKSON — State revenue collections were down slightly in May. However, it did not surprise Gov. Haley Barbour, and he pointed out that the state is well over forecasts for year-to-date collections. “Mississippi’s preliminary revenue for May fell 0.52 percent, or $1.8 million, below the estimate,” Barbour said. “While this is a small shortfall, it is consistent with a slowdown ...

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Cochran votes against oil and gas tax provisions

WASHINGTON — Sen. Thad Cochran (R-Miss.) has issued the following statement regarding his vote against proceeding to S.940, a measure to repeal or limit tax provisions utilized by U.S.-based oil and gas companies, including the 2005 Energy Policy Act’s deep-water royalty relief for offshore energy production. “This legislation is an overtly political document that would not ease gasoline prices or ...

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