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State and Local Taxes
Mississippi State Tax Summary

Mississippi state tax summary, including corporate and individual Mississippi income taxes, credits, exemptions, deductions and more. Includes Mississippi estate, gift and inheritance tax, miscellaneous Mississippi taxes, pass-through entity treatment, payroll taxes, property taxes and Mississippi sales & use taxes.

Mississippi ranks #21 on the State Business Tax Climate Index (TaxFoundation.org).

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    taxmOuth Mississippi Taxes

Mississippi Tax Contacts

Mississippi Tax FAQs

Mississippi Tax Forms

Mississippi Corporate Taxes

  • taxmOuth Mississippi Corporate Taxes
  • Mississippi Tax Rates & Brackets:

    3%> $0
    4%> $5,000
    5%> $10,000
  • Loss Carry-back/fwd: 2 Years Back / 20 Years Forward (Unlimited)
  • Throwback Sales?: Y
  • Foreign Tax Deductible?: N
  • Alternative Minimum Tax (AMT): N
  • Gross Receipts Tax: N
  • Capital Stock (Net Worth) Tax?: 0.250% (unlimited)

Mississippi Tax Incentives and Credits

Mississippi Individual Income Taxes

  • taxmOuth Mississippi Individual Income Taxes
  • Mississippi tax rates and brackets:

    3%> $0
    4%> $5,000
    5%> $10,000
  • Local Option IT Rate: None
  • Federal Inc used as Base?: N
  • Standard Deductions: Single $2,300 / Joint $4,600
  • Personal Exemptions/Credits (c): Single $6,000 / Joint $12,000 / Dependent $1,500
  • Federal Tax Deductible?: N
  • State Tax Deductible?: Y
  • Alternative Minimum Tax (AMT)?: N

Mississippi Estate, Gift and Inheritance Taxes

Mississippi Miscellaneous Taxes

Mississippi Pass-through Tax Treatment

Mississippi Payroll Taxes

Mississippi Property Taxes

  • taxmOuth Mississippi Property Taxes
  • Median Tax Paid on Homes (Rank): $468 (#47)
  • Median Value of Homes: $99,700
  • Tax as % of Home Value (Rank): 0.47% (#46)
  • Median Income of Homeowner: $46,793
  • Tax as % of Income (Rank): 1.00% (#47)

Mississippi Sales and Use Taxes

  • taxmOuth Mississippi Sales and Use Taxes
  • State Rate: 7.00%
  • County & City (Weighted Ave): None
  • Combined State and Ave. Local Rates (Rank): 7.00% (#19)
  • General Treatment of Services: Taxable
  • Gasoline: Exempt
  • Groceries: Taxable

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