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MS SB2990

MS SB2990
Sales tax; exempt retail sales to honorably discharged veterans with service-connected, total disabilities.


summary

Introduced
02/12/2025
In Committee
02/12/2025
Crossed Over
Passed
Dead
02/26/2025

Introduced Session

2025 Regular Session

Bill Summary

An Act To Amend Section 27-65-111, Mississippi Code Of 1972, To Exempt From The State Sales Tax Retail Sales To An Honorably Discharged Veteran With A Service-connected, Total Disability, If Such Veteran Provides Documentation From The Department Of Revenue Of Exempted Status; And For Related Purposes.

AI Summary

This bill amends the Mississippi state sales tax law to create a new sales tax exemption specifically for honorably discharged veterans with service-connected, total disabilities. Under the new provision, these veterans will be exempt from paying state sales tax on retail purchases, provided they can produce documentation from the Mississippi Department of Revenue verifying their exempted status. The documentation requirement ensures that only veterans who meet the precise criteria of having been honorably discharged and having a service-connected, total disability can benefit from this tax exemption. The bill will go into effect on July 1, 2025, giving state agencies time to prepare for implementing the new exemption. By offering this tax break, the state aims to provide financial relief to veterans who have sustained significant disabilities during their military service, recognizing their sacrifices and supporting their economic well-being.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Died In Committee (on 02/26/2025)

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