MS SB3001

Exempts retail sales of groceries from the 7% state sales tax effective July 1, 2025.

Adjusts municipal sales tax distributions beginning September 15, 2025 to compensate municipalities for lost revenue from the grocery exemption based on prior-year grocery sales tax collections.

Requires annual adjustments to municipal compensation amounts (beginning July 1, 2026) using the lesser of 0.5% or the previous year's Consumer Price Index inflation rate.

Removes grocery sales from the exemption list in Section 27-65-241 regarding municipal special sales taxes in cities with 150,000+ population.

Conforms other provisions of the Mississippi Sales Tax Law to implement the grocery exemption and revenue distribution changes.