Taxes in Mississippi

Each state’s tax code is a multifaceted system with many moving parts, and Mississippi  is no exception. The first step towards understanding Mississippi’s tax code is knowing the basics.

How does Mississippi rank?  Below, we have highlighted a number of tax rates, ranks, and measures detailing Mississippi’s income tax, business tax, sales tax, and property tax systems. Click the tabs below to explore!

Top Individual Income Tax Rate

5%

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State and Local Individual Income Tax Collections per Capita

$614

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State and Local Tax Burden

8.6%

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Top Corporate Income Tax Rate

5.00%

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State Business Tax Climate Index Ranking

31

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State Sales Tax Rate

7.00%

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Average Local Sales Tax Rate

0.07%

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Combined State and Average Local Sales Tax Rate

7.07%

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State and Local General Sales Tax Collections per Capita

$1191

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State Gasoline Tax Rate (cents per gallon)

18.79¢

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State Cigarette Tax Rate (dollars per 20-pack)

$0.68

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Property Taxes Paid as a Percentage of Owner-Occupied Housing Value

0.65%

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State and Local Property Tax Collections Per Capita

$1017

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Featured Articles

Top Rates in Each State Under Joe Biden’s Tax Plan

October 20, 2020

State Tax Changes Effective July 1, 2020

July 9, 2020

A Visual Guide to Unemployment Benefit Claims

April 2, 2020

Facts and Figures 2020: How Does Your State Compare?

February 13, 2020

Tax Trends at the Dawn of 2020

January 6, 2020

Sales Tax Holidays: Politically Expedient but Poor Tax Policy, 2019

July 24, 2019


Related Articles

2021 State Business Tax Climate Index

Top Rates in Each State Under Joe Biden’s Tax Plan

New Census Data Shows States Beat Revenue Expectations in FY 2020

State Tax Changes Effective July 1, 2020

April 10th Afternoon State Tax Update

April 2nd Evening State Tax Update

A Visual Guide to Unemployment Benefit Claims

Idaho, Mississippi, and Virginia are the Holdouts on July 15th Tax Deadlines

March 26th Morning State Tax Update

March 24th Morning State Tax Update

Facts and Figures 2020: How Does Your State Compare?

Tax Trends at the Dawn of 2020

Sales Tax Holidays: Politically Expedient but Poor Tax Policy, 2019

Facts and Figures 2019: How Does Your State Compare?

Tax Changes Taking Effect January 1, 2019

2019 State Business Tax Climate Index

Mississippi Turns to Lottery, Other Tax Changes, in Special Session to Fund Bridge Repair

Increasing the Cigarette Tax to Fund Road Maintenance in Mississippi? Not So Fast.

Mississippi House Speaker Proposes “Tax Swap” to Fund Bridge Repair

Mississippi’s Pro-Growth Tax Swap Proposal