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Tag Archives: taxes

Cochran pushing for ag tax provision extension

WASHINGTON — U.S. Sen. Thad Cochran (R-Miss.) is supporting legislation that would permanently extend a federal tax provision that allows farmers and ranchers to benefit from voluntarily placing property into conservation easements. Cochran is co-sponsoring the Rural Heritage Conservation Extension Act (S.339) to make permanent the provision allowing maximum tax deductions for charitable contributions of conservation easements. The existing benefit ...

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Cochran co-sponsors bill to kill healthcare reform provision

WASHINGTON — U.S. Sen. Thad Cochran (R-Miss.) voted to repeal a section of the year-old healthcare reform law that would have required businesses, local governments, churches and charities to file Internal Revenue Service (IRS) 1099 forms for transactions totaling more than $600 a year. The Senate voted 87-12 April 5 to fully repeal the IRS 1099 reporting requirement that was ...

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State's March revenue collections exceed estimate

JACKSON — Preliminary figures show the state’s revenue collections in March exceeded the forecast, but Gov. Haley Barbour is still pushing for caution when spending. “As of (yesterday), Mississippi’s preliminary March revenue collections exceeded the revised estimate by 2.16 percent,” Barbour said. “The state collected $9.8 million above the revised March estimate, which was adopted earlier this month. “While this ...

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Jackson's sales tax bill headed to Barbour's desk

JACKSON — Lawmakers have sent to the governor a bill to allow the city of Jackson to levy — with voter approval — a 1-cent sales tax for infrastructure improvements. The Clarion-Ledger reports that legislative approval came yesterday. The 1-cent hike would require 60 percent voter approval and raise the sales tax in Jackson to 8 cents, excluding groceries, hotels/motels ...

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Barbour disagrees with committee's revenue estimates

JACKSON — Gov. Haley Barbour is not pleased with the revenue estimates recently adopted by the Joint Legislative Budget Committee. In a statement, Barbour wrote: “I disagree with the decision of the Joint Legislative Budget Committee to increase the revenue estimate for this year and next year by a total of $20.9 million. We cannot rely on imagined revenue when ...

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D'Iberville officials mulling new restaurant tax

D’IBERVILLE — The D’Iberville City Council will discuss Wednesday a possible 2 percent sales tax on restaurants to help pay for a new public safety center and sports complex. WLOX-TV in Biloxi reports it’s been more than two years since D’Iberville formed its own police force and officers have moved from a trailer to working out of the old city ...

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Senators: Congress, not EPA, should set energy policies

WASHINGTON — U.S. Senators Thad Cochran and Roger Wicker (R-Miss.) are supporting legislation they say will protect the American people from higher energy costs by halting Environmental Protection Agency (EPA) efforts to impose greenhouse gas regulations on industry. The Energy Tax Prevention Act of 2011 (S.482) clarifies that the EPA does not have the authority under the Clean Air Act ...

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State's tax collections missed target in February

JACKSON — After exceeding expectations in January, state tax collections fell below their target for February, prompting Gov. Haley Barbour again to call for conservative spending by lawmakers. “As of today, Mississippi’s preliminary February revenue collections missed the estimate by 2.15 percent,” Barbour said. “The state collected $228.8 million, which was $5 million below the Sine Die estimate for the ...

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Two CDEs awarded New Market Tax Credits

MADISON and JACKSON — U.S. Sen. Thad Cochran (R-Miss.) is welcoming New Markets Tax Credit (NMTC) program allocation awards that will allow two Mississippi organizations to leverage $81 million in tax credit authority into greater private-sector investment for economic and community development in low-income areas of the state. The U.S. Treasury Department Feb. 24 announced 2010 NMTC allocations of $53 ...

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Mitsubishi Electric awarded incentives for Memphis plant

MEMPHIS — Mitsubishi Electric will receive more than $34 million in tax incentives for building a $200-million high-voltage power transformer factory that is expected to create 281 jobs in Memphis, documents show. Mitsubishi Electric Power Products announced plans Monday to build the plant on 140 acres at an industrial park near the Mississippi River. The plant, which is expected to ...

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