MS SB2599

Amends Section 27-35-305 of the Mississippi Code to revise the penalty for companies, corporations, firms, or persons that fail to render property schedules to the Department of Revenue for tax assessment purposes.

Changes the penalty language from "up to" ten percent (10%) of the assessment to "in the amount of" ten percent (10%), establishing a fixed penalty rather than a discretionary one.

Updates references throughout the statute from "State Tax Commission" to "Department of Revenue" to reflect current organizational structure.

Takes effect July 1, 2020.