MS HB1516

Adds a new sales tax exemption for nonprofit organizations operating long-term care facilities exclusively for adults with mental retardation, provided the organization is exempt from federal income tax under Section 501(c)(3).

The exemption applies to sales of tangible personal property and services to these qualifying nonprofit organizations.

Amends Section 27-65-111 of the Mississippi Code of 1972 by adding subsection (cc) to establish this exemption category.

Takes effect July 1, 2012.

Does not affect any tax claims, assessments, or appeals for taxes accrued before the effective date.