Bill > SB3121

This bill, known as the Retailer Tax Fairness Act, aims to provide tax relief to merchants and sellers in Mississippi by allowing them to claim a credit against state and local taxes they collect. Specifically, if a merchant or seller pays or is charged an interchange fee, which is a fee paid to the card issuer for processing electronic payments like those made with credit or debit cards, they will be entitled to a tax credit. This credit will be equal to two and one-half percent (2.5%) of the state and local taxes collected from a customer in any electronic payment transaction where such a fee was incurred. The bill defines key terms such as "credit card," "debit card," "electronic payment transaction," and "interchange fee" to clarify its scope, and it will take effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB3121.xml