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Mississippi tax help, forms and answers to thousands of Mississippi tax questions. Handy summary of all Mississippi taxes, including corporate and individual Mississippi income taxes, credits, exemptions, deductions and more. Includes Mississippi estate, gift and inheritance tax, miscellaneous Mississippi taxes, pass-through entity treatment, payroll taxes, property taxes and Mississippi sales & use taxes.

Mississippi ranks #21 on the State Business Tax Climate Index (TaxFoundation.org).

Mississippi State Tax Summary (TaxGrams ™)
Corporate Taxes
   Rates & Brackets:
      3%> $0
      4%> $5,000
      5%> $10,000
   Loss Carry-back/fwd: 2 Years Back / 20 Years Forward (Unlimited)
   Throwback Sales?: Y
   Foreign Tax Deductible?: N
   Alternative Minimum Tax (AMT): N
   Gross Receipts Tax: N
   Capital Stock (Net Worth) Tax?: 0.250% (unlimited)

Credits and Incentives
   Job Credits?: Y
   R&D Credits?: Y
   Investment Credits?: Y

Individual Taxes
   Rates & Brackets:
      3%> $0
      4%> $5,000
      5%> $10,000
   Local Option IT Rate: None
   Federal Inc used as Base?: N
   Standard Deductions: Single $2,300 / Joint $4,600
   Personal Exemptions/Credits (c): Single $6,000 / Joint $12,000 / Dependent $1,500
   Federal Tax Deductible?: N
   State Tax Deductible?: Y
   Alternative Minimum Tax (AMT)?: N

Inheritance, Gift, Estate, Death Taxes
   Gift Tax?: N
   Estate Tax?: Copies Federal
   Inheritance Tax?: N
   Generation-Skipping Tax?: N

Miscellaneous Taxes
   Gas Tax: 18.8 cents/gallon
   Diesel Tax: 18.8 cents/gallon
   Cigarette Tax: 68.0 cents/20 pack

Pass-through Entities
   LLC Pass-through Recognized?: Y
   S-Corp Pass-through Recognized?: Y

Payroll Taxes
   Unemployment Insurance Tax Index (TaxFoundation.org): #4

Property Taxes
   Median Tax Paid on Homes (Rank): $468 (#47)
   Median Value of Homes: $99,700
   Tax as % of Home Value (Rank): 0.47% (#46)
   Median Income of Homeowner: $46,793
   Tax as % of Income (Rank): 1.00% (#47)

Sales and Use Taxes
   State Rate: 7.00%
   County & City (Weighted Ave): None
   Combined State and Ave. Local Rates (Rank): 7.00% (#19)
   General Treatment of Services:Taxable
   Gas Exemption: Exempt
   Grocery Exemption: Taxable

 
 

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Mississippi Tax Forms popular

Please file the original printed copy and remember to keep copy for your records. The original that you print from the site is not considered a photocopy. You should not duplex-print these forms.

http://www.dor.ms.gov/downloadforms/main.htm

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FAQ: Mississippi Tax Compliance Audit

The following is intended to provide general information concerning frequently-asked questions about taxes administered by the Mississippi Department of Revenue.

http://www.dor.ms.gov/info/faqs/faqs_ComplianceFAQs.html

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