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MS SB2082
Bill
Status
Failed
2/23/2022
Primary Sponsor
Kevin Blackwell
Click for details
AI Summary
- Defines "small business" as any commercial enterprise with annual net revenue less than $2,000,000
- Phases in ad valorem tax exemptions on inventory held for resale by small businesses, starting at 20% in 2023 and increasing by 20% annually
- Reaches complete exemption of 100% for small business inventory on January 1, 2027
- Does not affect tax claims, assessments, appeals or liens for taxes accrued before the exemption effective dates
- Takes effect July 1, 2022
Legislative Description
Ad valorem tax on inventory; phase in exemption for certain small businesses.
Last Action
Died In Committee
2/23/2022
Committee Referrals
Finance1/11/2022
Full Bill Text
No bill text available