Mississippi
What's New
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ITEP Work in Action
May 5, 2016Hope Policy Institute: Who Really Benefits: Why Large Tax Cuts Don’t Benefit Working Families and Communities
“Large tax reductions proposed at a time when Mississippi already is cutting important public investments due to a lack of revenue would erode the state’s ability to create jobs and…
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ITEP Work in Action
March 25, 2015Mississippi Economic Policy Center: All Roads Lead to Nowhere
Big tax cuts that largely benefit corporations and wealthy Mississippians are unaffordable and will erode our ability to support schools, universities, roads and bridges and public safety. Big tax cuts…
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ITEP Work in Action
March 6, 2015Mississippi Economic Policy Center: House and Senate Tax Plans Do Little for Struggling Working Families
The personal income tax cuts from both the [state] House and Senate plans benefit wealthier families more than lower and middle-income earners. Further, the high cost of these plans may…
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ITEP Work in Action
January 29, 2015Mississippi Economic Policy Center: A State Earned Income Tax Credit: A Boost for Mississippi Families
Mississippi families are struggling to make ends meet despite working hard and playing by the rules. The federal Earned Income Tax Credit (EITC) gives many of these families the boost… -
ITEP Work in Action
January 15, 2013Mississippi Economic Policy Center: Investing for Growth, Enhancing Our Prospects: Tax Reform in Mississippi
In any given year, the state of Mississippi and its residents accomplish a lot. Through the collective investment of our tax dollars, we maintain over 10,000 miles of roads, help… -
ITEP Work in Action
January 14, 2013Mississippi Economic Policy Center: Putting the Pieces Together: A Taxpayer’s Guide to the Mississippi Budget
Budget decisions directly influence the quality of education that our children receive, the condition of the roads that we travel, the safety of our communities and the level of trust…
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ITEP Work in Action
January 14, 2013Mississippi Economic Policy Center: Thank Taxes- Tax Day 2011
Everyone who gets a paycheck pays payroll taxes. Everyone who buys anything at a local store or fills up their car with gas pays taxes. Individuals and businesses alike, benefit…
Related Resources
ITEP Publications about Mississippi
Reports about Mississippi using ITEP data
All items referencing Mississippi
By the Numbers
| Personal Income Tax Features (2015) | |
|---|---|
| Range of Tax Rates | 3% - 5% |
| Standard Deduction |
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| Personal Exemption | $6,000 (Extra $2,000 for Head of Household Filers) |
| Dependent Exemption | $1,500 |
| Earned Income Tax Credit (EITC) | None |
| Corporate Income Tax Features (2015) | |
|---|---|
| Range of Tax Rates | N/A |
| Income Level at Which Top Rate Applies | N/A |
| Combined Reporting | 3.00% - 5.00% |
| Apportionment Factor (Payroll) | $10,000 |
| Apportionment Factor (Property) | No |
| Apportionment Factor (Sales) | 0% |
| Sales Tax Features (2015) | |
|---|---|
| State Sales Tax Rate | 7.00% |
| Average Local Sales Tax Rate | 0.05% |
| Average Combined State & Local Sales Tax Rate | 7.05% |
| State Sales Tax Treatment of Groceries | Taxed at regular rate with no offsetting relief |
| Local Sales Tax Treatment of Groceries | N/A |
| Number of Services Taxed | 72 out of 168 surveyed (2007) |
| Streamlined Sales Tax Membership | No |
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| Property Tax Features (2015) | |
|---|---|
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| Other Tax & Revenue Features (2015) | |
|---|---|
| Gasoline Tax Rate (per gallon) | $0.188 |
| Diesel Tax Rate (per gallon) | $0.188 |
| Cigarette Tax Rate (per pack) | $0.68 |
| Estate or Inheritance Tax | No |
| Net Lottery Sales Per Capita | N/A |
| Tax Policy Oversight | |
|---|---|
| Tax Expenditure Report | Yes |
| Tax Incidence Analysis Capability | Personal income tax only |
Last updated January 13, 2015