Governors and legislative leaders in a dozen states have made calls to fully eliminate their taxes on personal or corporate income, after many states already deeply slashed them over the past few years. The public deserves to know the true impact of these plans, which would inevitably result in an outsized windfall to states’ richest taxpayers, more power in the hands of wealthy households and corporations, extreme cuts to basic public services, and more deeply inequitable state tax codes.
Mississippi
-
blog March 20, 2024 Eliminating Income Taxes Would Be an Expensive Giveaway
-
January 9, 2024 Mississippi: Who Pays? 7th Edition
Mississippi Download PDF All figures and charts show 2024 tax law in Mississippi, presented at 2023 income levels. Senior taxpayers are excluded for reasons detailed in the methodology. Our analysis… -
ITEP Work in Action February 7, 2022 One Voice: Eliminating Individual Income Tax is Bad for Mississippi
House Bill 531 would eliminate the state individual income tax. Eliminating the income tax is bad for Mississippi, especially the state’s working families, communities of color, and retirees. While some… -
blog January 19, 2022 Mississippi Is the Latest in a String of States Pursuing Short-Sighted, Top-Heavy Tax Cuts
Not only is Mississippi’s latest tax proposal deeply inequitable, the state simply cannot afford it.
-
blog August 25, 2021 Eliminating the State Income Tax Would Wreak Havoc on Mississippi
History has repeatedly shown that such policies harm state economies, dismantle basic public services, and exacerbate tax inequities.
-
ITEP Work in Action August 17, 2021 One Voice: Who Pays, Mississippi? An Overview of State Tax Policy and Racial Equity Impacts
Historic and current injustices, both in public policy and in society more broadly, have resulted in vast disparities in income across race and ethnicity in Mississippi. State and local tax… -
ITEP Work in Action March 16, 2021 One Voice Mississippi: Bill Analysis: House Bill 1439: Tax Proposal Moves State Away from a Better, More Equitable Mississippi
Mississippi’s House of Representatives recently passed House Bill 1439 (“the Mississippi Tax Freedom Act of 2021”). The House passed the 300-page bill less than 24 hours after they introduced it… -
blog March 15, 2021 Trickle-Down Myths Swamp Tax Policy Debates in Mississippi and West Virginia
Recent proposals in both Mississippi and West Virginia seek to pare back, and ultimately eliminate, each state’s income tax while shifting the responsibility of funding services even more onto low- and middle-income taxpayers through increased consumption taxes. The states are moving forward with this tax experiment even though a similar experiment notoriously and immediately sent Kansas into a financial tailspin.
-
blog January 24, 2020 GOP Legacy on IRS Administration: Auditing Mississippi, not Microsoft
Money doesn’t buy happiness—but it can buy immunity from the reach of Uncle Sam. The IRS is outgunned in cases against corporate giants because that’s how Republican leaders want it to be. They have systematically assaulted the agency’s enforcement capacity through decades of funding cuts. Instead of saving money, these cuts have cost billions: each dollar spent on the IRS results in several dollars of tax revenue collected.
-
October 17, 2018 Mississippi: Who Pays? 6th Edition
MISSISSIPPI Read as PDF MISSISSIPPI STATE AND LOCAL TAXES Taxes as Share of Family Income Top 20% Income Group Lowest 20% Second 20% Middle 20% Fourth 20% Next 15% Next… -
September 26, 2018 Tax Cuts 2.0 – Mississippi
The $2 trillion 2017 Tax Cuts and Jobs Act (TCJA) includes several provisions set to expire at the end of 2025. Now, GOP leaders have introduced a bill informally called… -
December 16, 2017 How the Final GOP-Trump Tax Bill Would Affect Mississippi Residents’ Federal Taxes
The final tax bill that Republicans in Congress are poised to approve would provide most of its benefits to high-income households and foreign investors while raising taxes on many low-… -
December 6, 2017 How the House and Senate Tax Bills Would Affect Mississippi Residents’ Federal Taxes
The House passed its “Tax Cuts and Jobs Act” November 16th and the Senate passed its version December 2nd. Both bills would raise taxes on many low- and middle-income families in every state and provide the wealthiest Americans and foreign investors substantial tax cuts, while adding more than $1.4 trillion to the deficit over ten years. The graph below shows that both bills are skewed to the richest 1 percent of Mississippi residents.
-
November 14, 2017 How the Revised Senate Tax Bill Would Affect Mississippi Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Mississippi, 45 percent of the federal tax cuts would go to the richest 5 percent of residents, and 10 percent of households would face a tax increase, once the bill is fully implemented.
-
blog November 8, 2017 State Rundown 11/8: Online Sales Tax Fight and Tax Subsidy Absurdity Go National
Internet sales tax fairness efforts gained momentum this week as most states joined together to encourage the US Supreme Court to allow them to collect taxes on online sales. Meanwhile, Montana lawmakers will enter special session next week to plug their revenue shortfall, Mississippi’s (self-inflicted) revenue crunch is reaching unprecedented severity, and misguided corporate tax subsidies got mainstream attention from HBO’s John Oliver and Rolling Stone.
-
November 6, 2017 How the House Tax Proposal Would Affect Mississippi Residents’ Federal Taxes
The Tax Cuts and Jobs Act, which was introduced on November 2 in the House of Representatives, includes some provisions that raise taxes and some that cut taxes, so the net effect for any particular family’s federal tax bill depends on their situation. Some of the provisions that benefit the middle class — like lower tax rates, an increased standard deduction, and a $300 tax credit for each adult in a household — are designed to expire or become less generous over time. Some of the provisions that benefit the wealthy, such as the reduction and eventual repeal of the estate tax, become more generous over time. The result is that by 2027, the benefits of the House bill become increasingly generous for the richest one percent compared to other income groups.
-
October 4, 2017 GOP-Trump Tax Framework Would Provide Richest One Percent in Mississippi with 55.2 Percent of the State’s Tax Cuts
The “tax reform framework” released by the Trump administration and congressional Republican leaders on September 27 would not benefit everyone in Mississippi equally. The richest one percent of Mississippi residents would receive 55.2 percent of the tax cuts within the state under the framework in 2018. These households are projected to have an income of at least $404,300 next year. The framework would provide them an average tax cut of $42,060 in 2018, which would increase their income by an average of 3.6 percent.
-
August 17, 2017 In Mississippi 37.1 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Mississippi population (0.2 percent) earns more than $1 million annually. But this elite group would receive 37.1 percent of the tax cuts that go to Mississippi residents under the tax proposals from the Trump administration. A much larger group, 55.7 percent of the state, earns less than $45,000, but would receive just 6.3 percent of the tax cuts.
-
ITEP Work in Action July 21, 2017 Hope Policy Institute: Mississippi’s Wealthiest Get the Most Benefit under New Federal Tax Cut Proposal
New research from the Institute on Taxation and Economic Policy (ITEP) looks at the potential effects of a tax cut proposal from the Trump Administration on families in the 50 states. The tax cut proposal would reduce the tax rate on corporate income from 35 percent to 15 percent, would repeal the estate tax, replace the current income tax brackets with three brackets at 10 percent, 25 percent, and 35 percent, eliminate most itemized deductions, except charitable giving and home mortgage interest, and create a new tax credit for childcare expenses, among other things.
-
July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Mississippi with 47.8 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Mississippi would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,108,300 in 2018. They would receive 47.8 percent of the tax cuts that go to Mississippi’s residents and would enjoy an average cut of $62,390 in 2018 alone.
-
blog June 28, 2017 State Rundown 6/28: States Scramble to Finish Budgets Before July Deadlines
This week, several states attempt to wrap up their budget debates before new fiscal years (and holiday vacations) begin in July. Lawmakers reached at least short-term agreement on budgets in Alaska, New Hampshire, Rhode Island, and Vermont, but such resolution remains elusive in Connecticut, Delaware, Illinois, Maine, Pennsylvania, Washington, and Wisconsin.
-
ITEP Work in Action March 21, 2017 Hope Policy Institute: Everyone Pays Taxes, Including Undocumented Immigrants
According to a new report by the Institute on Taxation and Economic Policy (ITEP), it is estimated that undocumented immigrants in Mississippi pay almost $22,684,000 in state and local taxes. Nationally, undocumented immigrants pay over $11.74 billion in state and local taxes. The report, entitled “Undocumented Immigrants’ State and Local Tax Contributions,” highlights the contributions of undocumented immigrants as taxpayers to state and local governments.
-
media mention October 14, 2016 WTOK News Center: Mississippi tax code getting scrutiny
“But check out a chart from the Institute on Taxation and Economic Policy. It’s all about state and local taxes. On one end is the lowest income families in the… -
media mention October 13, 2016 DJournal: Mississippi’s poor pay more in taxes
“‘The state’s low- and middle-income earners paid nearly double the percentage of their income in taxes compared to the state’s highest income families,’ Donovan wrote in a report compiled for… -
media mention June 3, 2016 Forbes: Is The Best Tax Cut Of The Year Out Of Mississippi?
“The tax cutting in Mississippi didn’t stop with the franchise tax. The measure signed by the governor also significantly reduced personal income taxes. Basically, the state will exempt the first…