MS HB1313

Amends Section 27-65-37, Mississippi Code of 1972 to revise how the Commissioner of Revenue assesses sales tax liability when taxpayers fail to maintain adequate records or underpay taxes.

Changes the standard for tax assessments from "any information available" to "the best information available" when records are inadequate or taxes are unpaid.

Establishes an estoppel provision preventing the Commissioner from collecting additional taxes if a taxpayer used a method previously audited with no additional tax owed, provided no statutory or regulatory changes occurred and the taxpayer detrimentally relied on the prior audit result.

Requires the Commissioner to provide notice of assessments to taxpayers and demand payment within 60 days via regular first-class mail or personal delivery, with specific notice procedures for individuals, partnerships, and corporate entities.

Takes effect July 1, 2017.