Bill
Bill > HB1205
MS HB1205
MS HB1205Sales tax; reduce rate to 1.5% for retail sales of fencing material and cattle trailers to farmers for agricultural purposes.
summary
Introduced
02/14/2024
02/14/2024
In Committee
02/14/2024
02/14/2024
Crossed Over
Passed
Dead
03/27/2024
03/27/2024
Introduced Session
2024 Regular Session
Bill Summary
An Act To Amend Section 27-65-17, Mississippi Code Of 1972, To Provide That Retail Sales Of Fencing Materials And Cattle Trailers To Farmers For Agricultural Purposes, As Well As Parts And Labor Used To Maintain And/or Repair Such Cattle Trailers, Shall Be Taxed At A Rate Of 1.5%; And For Related Purposes.
AI Summary
This bill amends Section 27-65-17 of the Mississippi Code of 1972 to reduce the sales tax rate from 7% to 1.5% for retail sales of fencing materials and cattle trailers to farmers for agricultural purposes, as well as parts and labor used to maintain and/or repair such cattle trailers. The bill also provides that this reduced tax rate will apply to retail sales of farm implements, logging equipment, and machinery and machine parts to certain technology-intensive enterprises. The bill specifies that this act will take effect on July 1, 2024 and will not affect any existing tax claims, assessments, or legal actions.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Died In Committee (on 03/27/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2024/pdf/history/HB/HB1205.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2024/html/HB/1200-1299/HB1205IN.htm |
Loading...