Loading chat...

MS HB1352

Bill

Official Source

Status

Failed

3/4/2014

Primary Sponsor

Jeffrey Smith

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Repeals Section 27-7-308 of the Mississippi Code of 1972, which required buyers of real property to withhold a portion of sale proceeds from nonresident sellers
  • Eliminates the withholding requirement that applied when property sales were not exchanges or trades and resulted in gross proceeds exceeding $100,000
  • Takes effect January 1, 2014

Legislative Description

Income tax; repeal the provision that requires withholding of a portion of the gain realized on property sold by nonresidents.

Last Action

Died In Committee

3/4/2014

Committee Referrals

Finance2/17/2014
Ways and Means1/20/2014

Full Bill Text

No bill text available