MS HB1346

Amends Section 27-65-37 of the Mississippi Code to allow the Commissioner of Revenue to assess sales tax liability using "the best information available" when taxpayers fail to maintain adequate records of gross income or gross proceeds of sales.

Establishes an estoppel provision preventing the Commissioner from collecting additional taxes if a taxpayer used a method previously audited with no additional tax due, provided the method remains unchanged and no statutory or regulatory changes have occurred.

Requires the Commissioner to provide written notice of tax assessments and demand payment within 60 days, delivered by regular mail or by agent to the taxpayer's residence or place of business.

Allows the Commissioner to proceed with collection actions under Section 27-65-39 if a taxpayer fails to comply with the assessment notice or fails to petition for a hearing.

Takes effect July 1, 2014.