MS SB2736

Removes the July 1, 2011 repeal date on a tax levied on sales of manufacturing or processing machinery to be installed at refineries in Mississippi (1.5% tax rate) and on construction activities performed at refineries (3.5% tax rate).

Allows refinery owners holding a direct pay permit to provide the permit to sellers or construction contractors, relieving them of the duty to collect the tax, with the refinery owner responsible for payment instead.

Permits the Department of Revenue to assign a distinctive number to refineries, allowing owners to furnish this number to construction contractors to purchase component materials and parts without paying sales tax.

Requires refinery owners applying for a distinctive number to execute and file a surety bond with the commissioner guaranteeing payment of all accruing taxes under the chapter.

Removes the July 1, 2011 repeal date on an exemption from construction activity taxes for construction activities performed at refineries as defined in Section 27-65-24.