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MS HB158
Bill
Status
2/2/2021
Primary Sponsor
Becky Currie
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AI Summary
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Eliminates the requirement for taxpayers with average monthly sales tax liability of at least $50,000 to pay 75% of their estimated June sales tax liability by June 25 each year
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Removes the associated 10% penalty for taxpayers who failed to comply with the June 25 accelerated payment requirement
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Maintains the standard sales tax due date of the 20th day of the month following the month in which the tax accrues
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Preserves the 2% discount (capped at $50/month or $600/year per business location) for taxpayers who timely file returns and pay sales/use taxes
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Effective date: July 1, 2021
Legislative Description
Sales tax; remove requirement that certain taxpayers pay June liability for the tax on or before June 25.
Last Action
Died In Committee
2/2/2021