Posts Tagged ‘income tax’
House advances income tax repeal
The Mississippi House of Representatives has again advanced legislation designed to eliminate the income tax in Mississippi. Today, House Bill 531, sponsored by Speaker Philip Gunn, passed the House and will soon head to the Senate for consideration. “Our research, which included dynamic modeling by a Ph.D. economist at Rice University, shows the potential of profoundly…
Read MoreHB 531: Mississippi Tax Freedom Act
House Bill 531, sponsored by Speaker Philip Gunn, seeks to eliminate the income tax in Mississippi. Like last year’s bill, the mechanism for eliminating the income tax begins with increasing the tax exemption available to Mississippians. For single workers, the exemption would go up from $6,000 under current law to $37,700. For married workers, the…
Read MoreIncome tax repeal moves in the House
The House of Representatives has not stopped its pursuit to eliminate the income tax in Mississippi. Yesterday, the House of Representatives released a new proposal to eliminate the income tax. Shortly after its introduction, the bill passed out of the Ways and Means committee with action on the House floor expected soon. Like last year’s…
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