MS HB1387

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

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

Requires the Commissioner to notify taxpayers of assessments and demand payment within 60 days by first class mail or personal delivery to the taxpayer, their agent, or appropriate representative depending on entity type.

Effective July 1, 2016.