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News

Legislature Cuts, But Does Not Abolish State Income Tax

After a bruising fight between Mississippi’s House and Senate, the Legislature passed a significant income tax-reduction bill on Sunday, doing away with the state’s lower tax bracket and shearing 1% off of the top bracket. The total cut to revenue will amount to $524 million after the plan fully phases in by 2026.

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News

Senate Unveils Plan To Eliminate 4% Tax Bracket

The Mississippi Senate has unveiled its income-tax plan, challenging the House’s charge toward full elimination of the State’s income tax. As Senate Finance Committee leadership previously hinted, the Senate bill’s aim is to eliminate the 4% income-tax bracket, while leaving the top income-tax bracket of 5% intact.

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