MS SB2539

Phases out sales tax on truck-tractors and semitrailers used in interstate commerce registered under the International Registration Plan (IRP) over a five-year period from July 1, 2014 through June 30, 2019.

Tax rates decline progressively: 2.5% (through June 30, 2016), 1.5% (through June 30, 2017), 1% (through June 30, 2018), and 0.5% (through June 30, 2019), then complete exemption after July 1, 2019.

Tax applies only to the portion of the sale attributable to usage of the vehicle in Mississippi, calculated by multiplying the retail sales price by the percentage of total miles traveled in Mississippi.

Tax collection occurs at the time of vehicle registration through the State Tax Commission from the purchaser.

Effective July 1, 2014, with full exemption for these commercial vehicles taking effect July 1, 2019.