Bill > SB2840

Introduced Session

An Act To Amend Section 27-7-22.5, Mississippi Code Of 1972, Which Provides An Income Tax Credit For Ad Valorem Taxes Paid On Commodities, Raw Materials, Works-in-process, Products, Goods, Wares And Merchandise Held For Resale By Any Manufacturer, Distributor, Wholesale Or Retail Merchant, To Allow A Taxpayer, In Lieu Of Carrying Forward A Credit Claimed But Not Used In A Taxable Year, To Sell Such Credit On The Market During The Five Consecutive Years From The Close Of The Tax Year In Which The Credit Was Earned; To Allow The Option, In Lieu Of Claiming The Credit, Of Claiming A Rebate Of 75% Of The Amount That Would Be Eligible To Claim As A Credit; To Repeal Section 27-17-9, Mississippi Code Of 1972, Which Imposes Local Privilege License Requirements And Taxes For Engaging In Business; To Repeal Section 27-17-35, Mississippi Code Of 1972, Which Imposes A Local Privilege Tax On Operators Of Motor Vehicle Rental Businesses; To Repeal Section 27-17-162, Mississippi Code Of 1972, Which Imposes A Local Privilege Tax On Flea Market Sellers; To Repeal Section 27-17-299, Mississippi Code Of 1972, Which Imposes A Local Privilege Tax On Pawnbrokers; To Repeal Section 27-17-365, Mississippi Code Of 1972, Which Imposes A Local Privilege Tax On Operators Of Wholesale Or Retail Stores; To Repeal Section 27-17-415, Mississippi Code Of 1972, Which Imposes A Local Privilege Tax On Dealers Of Deadly Weapons; To Repeal Section 27-17-423, Mississippi Code Of 1972, Which Imposes A Local Privilege Tax On Owners Or Operators Of Drilling Rigs; To Repeal Section 27-17-425, Mississippi Code Of 1972, Which Imposes A Local Privilege Tax On Optometrists; And For Related Purposes.

AI Summary

Committee Categories

Chris Johnson (R)*, 

Title Suff Do Pass Comm Sub (on 02/24/2026)

Official Document