MS SB2442

Phasing in an exemption from ad valorem taxes on inventory held for resale by manufacturers, distributors, wholesale or retail merchants beginning in 2015 at 20% exemption, increasing to 40% (2016), 60% (2017), and 80% (2018)

Providing a complete 100% exemption from ad valorem taxes on inventory held for resale by manufacturers, distributors, wholesale or retail merchants beginning January 1, 2019

Repealing Section 27-7-22.5, which previously authorized an income tax credit for manufacturers, distributors, wholesale or retail merchants for ad valorem taxes paid on inventory held for resale

Taking effect January 1, 2015