MS HB1205

Reduces sales tax rate from 7% to 1.5% on retail sales of fencing materials and cattle trailers sold to farmers for agricultural purposes.

Extends the 1.5% reduced tax rate to parts and labor used to maintain and/or repair cattle trailers, aligning with existing rates for farm tractor repairs.

Becomes effective July 1, 2024.

Does not affect any tax claims, assessments, appeals, or suits for taxes accrued before the effective date.