MS HB1680

Increases state sales tax from 7% to 8% by adding a new 1% tax on retail sales of tangible personal property, effective July 1, 2016.

Directs all revenue from the new 1% sales tax to be deposited into the Education Enhancement Fund for appropriation by the Legislature.

Exempts retail sales of food for human consumption from the new 1% tax if the food would qualify for exemption under the existing food stamps exemption, regardless of whether purchased with food stamps.

Applies the new 1% tax to most retail transactions while maintaining existing reduced tax rates for specific items like farm equipment (1.5%), vehicles (3%), and manufacturing machinery (1.5%).