Bill > SB2825

This bill introduces the Retailer Tax Fairness Act, which provides a tax credit to merchants and sellers who collect state and local taxes through electronic payment transactions (such as credit or debit card purchases) and are charged an interchange fee (a fee paid to the card-issuing bank). Specifically, the bill defines key terms like "credit card," "debit card," and "payment card network," and establishes that merchants can receive a tax credit equal to 2.5% of the taxes collected in such transactions, provided they have not already passed the interchange fee cost to the customer as a separate transaction fee. The bill covers various state taxes, including those related to sales, use, and other specific state levies, as well as local taxes on businesses like hotels, motels, and restaurants. The provisions of this act will go into effect on July 1, 2025, and are designed to provide some financial relief to merchants who bear the cost of payment processing fees when collecting taxes through electronic transactions.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2825.xml