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MS SB2247
Bill
AI Summary
- Phases out Mississippi's corporation franchise tax through a series of annual reductions from 2014 to 2017, decreasing the tax rate from $2.50 per $1,000 of capital to $0.50 per $1,000 of capital
- Applies phased reduction to both domestic corporations (Section 27-13-5) and foreign corporations doing business in Mississippi (Section 27-13-7)
- Maintains a minimum franchise tax of $25.00 per accounting period during the phase-out period
- Repeals all corporation franchise tax statutes (Sections 27-13-1 through 27-13-67) effective January 1, 2018, completely eliminating the tax
- Takes effect July 1, 2013
Legislative Description
Corporation franchise tax; phase out.
Last Action
Died In Committee
2/27/2013
Committee Referrals
Finance1/21/2013
Full Bill Text
No bill text available