MS SB2987

Adds a new exemption to Mississippi sales tax law for sales of tangible personal property or services to 5th Squad by amending Section 27-65-111.

5th Squad joins other exempt organizations including nonprofits, educational institutions, charitable organizations, and specific named entities already listed in the sales tax exemption statute.

The exemption applies to ordinary and necessary purchases by 5th Squad, consistent with exemptions provided to similar organizations.

The act becomes effective July 1, 2024.

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