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      September 24, 2018

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Tax Relief in Mississippi

Mississippi MapMississippi residents tend to pay lower taxes than most states in the nation. For example, the state’s top personal income tax rate of 5% is 18th lowest among all states that collect individual income taxes. Mississippi collects a yearly average of $470 per person in state and local income taxes combined, which ranks 11th lowest nationwide.

Property taxes in Mississippi average $856 per person, 10th lowest in the United States. And, Mississippi residents pay the lowest average amount of federal income taxes at $7,402, more than $4,000 less than the national average.

However, with the fourth lowest median household income in the nation ($40,850) and a 12% decline in that median income in recent years, many individuals in Mississippi are struggling to meet their financial obligations, including tax debt.

Despite having a lower tax obligation, Mississippi residents are not immune to owing money to local, state and federal tax entities. Planning ahead and saving for April 15th every year is difficult for many of those that live paycheck-to-paycheck. Making car payments, purchasing groceries and taking care of medical needs often trump putting money into a savings account for Uncle Sam. Also, changes in financial circumstances - retirement, disability, and so forth - can push individuals into higher tax brackets and create a nasty surprise when it comes time to file tax returns.

Tax relief has become a focus for many residents of Mississippi as an approach to managing overwhelming financial struggles. These struggles can leave people facing seizure of assets or garnishment of wages in order to pay off taxes owed to federal and local tax authorities. Tax relief companies’ work with clients to create effective solutions to tax problems and can even significantly reduce their tax debt. A range of strategies can be employed by experts in tax relief, such as setting up IRS payment plans, audit representation and reconsideration, and negotiating penalty abatement.


No one is watching Mississippi yacht clubs that pay little or no property taxes

Mississippi law allows counties to exempt some fraternal and benevolent organizations from the property tax rolls, but no one is watching to see if they are living up to the requirements for the exemp...

Published:  Sun, 23 Sep 2018 04:00:00 GMT

New developer takes over mall site that has state tax aid

That center includes the Mississippi Gulf Coast's only Target store. The state has granted a sales tax rebate worth $96 million to the project under a since-repealed tax provision. Developers ...

Published:  Mon, 17 Sep 2018 06:20:00 GMT

In tax-free states, businesses squirm at collecting online sales taxes for others

Dennis Daugaard signed the measure earlier this month. But in five states - Hawaii, Maine, Mississippi, Oklahoma and Vermont - collections have already begun, according to the Sales Tax Institute, a t...

Published:  Sat, 22 Sep 2018 04:09:00 GMT

FERC Pipeline Tax Policy Change Challenged At DC Circ.

to recover income tax allowances in their cost-of-service rates. In a petition for review filed Friday, Enable Mississippi River Transmission LLC and Enable Gas Transmission LLC, units of pipeline MLP ...

Published:  Mon, 17 Sep 2018 15:00:00 GMT

South Mississippi City Looks to Annex Nearby Community

(AP) - A trial has begun for a south Mississippi city looking to annex an unincorporated ... Laurel has projected it would collect $3 million in new tax revenue from the area in five years.

Published:  Wed, 19 Sep 2018 09:46:00 GMT

The Freedom Trail in Mississippi Is a Chronicle of Outrage and Courage

Ms. Sims couldn't tell me exactly which house there he had ... The most fascinating were the ones stamped Poll Tax Receipts. It is said that Mrs. James-Jones' predecessor, six decades back, tried to t...

Published:  Tue, 11 Sep 2018 08:56:00 GMT

Baker Donelson adds five attorneys to tax practice

a move that gives the Firm one of the largest tax practices in the state of Mississippi. Joining Baker Donelson are C. Ted Sanderson Jr., James A. "Jay" Norris III, Leslie Bounds, William O.

Published:  Fri, 14 Sep 2018 13:01:00 GMT

Mississippi high court affirms governor's budget-cut power

Republican Gov. Phil Bryant cut more than $171 million from the state budget between July 2016 and May 2017 because tax collections fell short. Mississippi is required to maintain a balanced budget.

Published:  Thu, 13 Sep 2018 12:26:00 GMT

M/s Agha Trade moves SHC against levy of additional tax on coal import

KARACHI: The Sindh High Court (SHC) issued notices to the customs department and deputy attorney general on a petition filed by M/s Agha Trade Private Limited against imposition of 3% additional tax o...

Published:  Sun, 23 Sep 2018 19:51:00 GMT

City supports tax rebate for Eola project

... applied for approval of the site as a "Mississippi Tourism Project" through the Mississippi Development Authority in order to receive a rebate in sales tax credit. To be eligible for MDA's approva...

Published:  Sat, 15 Sep 2018 22:52:00 GMT

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