MS SB2873

Exempts from sales taxation the gross proceeds of sales of tangible personal property made for the sole purpose of raising funds for a school or organization affiliated with a school.

Defines "school" as any public or private school teaching courses in grades kindergarten through 12.

Adds a new subsection (cc) to Section 27-65-111, Mississippi Code of 1972, which establishes the tax exemption.

Takes effect July 1, 2011.