MS HB218

Amends Section 27-65-17, Mississippi Code of 1972, to establish a 3 percent sales tax rate on retail sales of equipment to licensed contractors for construction-related business use, reduced from the standard 7 percent rate.

The 3 percent rate applies only to individual equipment items with a sales price of at least $50,000.

Exempts equipment already subject to tax exemptions or lower tax rates from the new 3 percent rate.

Takes effect July 1, 2015.

Does not affect any tax claims, assessments, or litigation for taxes accrued before the effective date.