MS SB2433

Standardizes interest rates across multiple Mississippi tax statutes by changing various rates to one-half of one percent (1/2 of 1%) per month for late payments and delinquencies.

Reduces the interest rate on ad valorem tax appeals from 12% per annum to 6% per annum when payment is delayed due to ongoing appeals.

Reduces the interest rate for cigarette and tobacco tax violations from 12% per annum to 6% per annum on unpaid taxes.

Applies consistent one-half of one percent (1/2 of 1%) monthly interest rates across insurance premium taxes, mineral documentary taxes, sales taxes, use taxes, beer and light wine taxes, and other specified tax provisions.

Takes effect on July 1, 2020.