MS SB2470

Authorizes the Mississippi tax commissioner to deny or revoke a business permit for any applicant or taxpayer who has failed to satisfy all finally determined tax liabilities owed to the state.

Extends permit denial authority to business entities when a partner, member, principal officer, or director owning 10% or more of the entity and responsible for fiscal management has unpaid finally determined tax liabilities.

Allows the commissioner to accept an increased or additional bond from an entity instead of denying or revoking its permit when an individual with tax liabilities is involved.

Defines "finally determined tax liabilities" as state taxes, fees, penalties, and interest where assessment has been made and is not subject to further administrative or judicial review.

Takes effect July 1, 2020.