Mississippi
By the Numbers

Mississippi Below is a snapshot of key features of Mississippi's tax system. (Scroll Down)
Personal Income Tax Features (2015)
  • Range of Tax Rates: 3% - 5%
  • Standard Deduction: $2,300 ($4,600 for Married Couples)
  • Personal Exemption: $6,000 (Extra $2,000 for Head of Household Filers)
  • Dependent Exemption: $1,500
  • Earned Income Tax Credit (EITC): None
Corporate Income Tax Features (2015)
  • Range of Tax Rates: 3.00% - 5.00%
  • Income Level at Which Top Rate Applies: $10,000
  • Combined Reporting: No
  • Apportionment Factor (Payroll): 0%
  • Apportionment Factor (Property): 0%
  • Apportionment Factor (Sales): 100%
  • Apportionment Note: Apportionment formula varies by type of business; single sales is required if no specific business formula is specified
Sales Tax Features (2015)
  • State Sales Tax Rate: 7.00%
  • Average Local Sales Tax Rate: 0.05%
  • Average Combined State & Local Sales Tax Rate: 7.05%
  • State Sales Tax Treatment of Groceries: Taxed at regular rate with no offsetting relief
  • Local Sales Tax Treatment of Groceries: N/A
  • Number of Services Taxed: 72 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: No
  • Sales tax holiday offered in 2014
  • Sales tax applies to some digital goods and services
Property Tax Features (2015)
  • Provides a significant homestead credit.
  • Levies a car tax.
Other Tax & Revenue Features (2015)
  • Gasoline Tax Rate (per gallon): $0.188
  • Diesel Tax Rate (per gallon): $0.188
  • Cigarette Tax Rate (per pack): $0.68
  • Estate or Inheritance Tax: No
  • Net Lottery Sales Per Capita: N/A
Tax Policy Oversight
  • Tax Expenditure Report: Yes
  • Tax Incidence Analysis Capability: Personal income tax only

Last Updated January 13, 2015

Sources & Glossary