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Started By
Message
re: Bill would eliminate Mississippi state income tax. Here’s what you need to know.
Posted on 2/24/21 at 8:34 am to Bourre
Posted on 2/24/21 at 8:34 am to Bourre
When I read the title...
...maybe it would be easier to make my second home my primary residence in Mississippi instead of Texas or Florida.
Nah, never mind.
quote:
Bill would eliminate Mississippi state income tax.
...maybe it would be easier to make my second home my primary residence in Mississippi instead of Texas or Florida.
quote:
The legislation would eliminate the state’s personal income tax starting in 2022 for:
•Individuals making up to $47,700
•Couples making up to $95,400
•Head-of-family individuals making up to $46,600
Nah, never mind.
0
Posted on 2/24/21 at 8:36 am to pankReb
If they exempt the first 95k for couples that would definitely be better than an all or nothing cut off. Didn’t say in the op that the first x amount of Income would be exempt.
Posted on 2/24/21 at 8:43 am to bayoudude
quote:
If they exempt the first 95k for couples that would definitely be better than an all or nothing cut off. Didn’t say in the op that the first x amount of Income would be exempt.
Yeah the media always does a piss poor job when talking about taxes.
Posted on 2/24/21 at 8:49 am to Bourre
quote:
Mississippi is leading the way, once again
More like following Tennessee and others?
Posted on 2/24/21 at 8:52 am to seawolf06
that really was one of the dumber things I've read in a while. 
Posted on 2/24/21 at 8:53 am to seawolf06
When people on the board say Mississippi is leading the way they are usually referring to a MS v LA state v state comparison. Not a national leading the way argument.
Posted on 2/24/21 at 9:12 am to Bourre
Hard pass on this one.
Another tax break I don’t qualify for and yet everything id be buying would be more expensive except groceries
Another tax break I don’t qualify for and yet everything id be buying would be more expensive except groceries
Posted on 2/24/21 at 9:20 am to olemissfan26
I can’t believe that has to be explained to people who have been on this board longer than 5 minutes
Posted on 2/24/21 at 9:32 am to 1BIGTigerFan
quote:
Texas makes their revenue from property taxes. Don't see anything about the current and proposed property tax rates.
Property taxes should be the first tax removed from society. I've never understood how it is constitutional to pass a tax that never allows an individual to own land.
Posted on 2/24/21 at 9:44 am to CDawson
quote:
Property taxes should be the first tax removed from society. I've never understood how it is constitutional to pass a tax that never allows an individual to own land.
I agree. As soon as you don't pay, they take your land. So was it ever really yours in the first place?
Posted on 2/24/21 at 9:55 am to Bourre
I know people in the legislature and I’d be surprised if this passes. It’s not completely doa but there are a lot of people up there that have issues with this.
This post was edited on 2/24/21 at 9:56 am
Posted on 2/24/21 at 9:59 am to TigernMS12
Curious as to what their issues are. One of the most frustrating things about legislation is no one ever attaches their names to specific portions of bills and no one ever gives a specific reason behind why they voted it down.
Posted on 2/24/21 at 10:00 am to Lynxrufus2012
quote:
Do Ole Miss fans get their income tax eliminated or only Mississippi State?
They are phasing it in by income levels, so draw your own conclusions there.
Posted on 2/24/21 at 10:01 am to Bourre
I honestly can't believe so many citizens just meekly accepted state income taxes.
The budget transformation in the state of Tennessee since the Medicaid crisis and income tax debate has been incredible.
It's fricking amazing what business and employee friendly tax structure and fiscal restraint can do for a state.
The budget transformation in the state of Tennessee since the Medicaid crisis and income tax debate has been incredible.
It's fricking amazing what business and employee friendly tax structure and fiscal restraint can do for a state.
Posted on 2/24/21 at 10:03 am to Bourre
quote:So lower taxes on lower class. Again the middle class is screwed paying higher taxes
Individuals making up to $47,700 •Couples making up to $95,400 •Head-of-family individuals making up to $46,600
Posted on 2/24/21 at 10:05 am to jimbeam
(no message)
This post was edited on 2/24/21 at 10:08 am
Posted on 2/24/21 at 10:07 am to Bourre
quote:Their state sales tax is already 7%? Isn't La's only 4% and the parishes levy their own? How much do they Ms. counties add on top of that 7%?
•Increasing the sales tax on most goods to 9.5%, up from 7%.
Posted on 2/24/21 at 10:09 am to jimbeam
I was going to point that out, but it does move higher, potentially.
The lower class needs to pay more in taxes as they are the number one drivers of the need for jails, courts, handouts, etc.
The lower class needs to pay more in taxes as they are the number one drivers of the need for jails, courts, handouts, etc.
Posted on 2/24/21 at 10:10 am to pankReb
Is $48000 not middle class?
Posted on 2/24/21 at 10:12 am to jimbeam
It is. And as I’ve said in this thread typically threshold based income taxes mean that you don’t start paying taxes until that threshold is reached.
Meaning your first $47,700 would not be taxed.
Meaning your first $47,700 would not be taxed.
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