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MS HB676
Bill
Status
Failed
3/27/2024
Primary Sponsor
Rob Roberson
Click for details
AI Summary
- Creates the "Retailer Tax Fairness Act" allowing merchants and sellers to claim a tax credit equal to 2.5% of state and local taxes collected on electronic payment transactions where an interchange fee is charged
- Defines "electronic payment transaction" as any transaction using a debit card, credit card, or payment device authorized through a payment card network
- Defines "interchange fee" as a fee charged by a payment card network to compensate the card issuer for its involvement in the electronic payment transaction
- Applies to state taxes under Chapter 65, Title 27, Mississippi Code and specified tax sections, as well as local taxes on hotels, motels, restaurants, and other locally-levied taxes
- Takes effect July 1, 2024
Legislative Description
Retailer Tax Fairness Act; create.
Last Action
Died In Committee
3/27/2024
Committee Referrals
Ways and Means1/26/2024
Full Bill Text
No bill text available