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MS SB2840
Bill
Status
Engrossed
2/25/2026
Primary Sponsor
Chris Johnson
Click for details
AI Summary
- Department of Revenue must collect inventory tax revenue data from all Mississippi counties for the 2025 tax year
- Report due to Senate Finance Committee and House Ways and Means Committee chairmen by December 1, 2026
- Report must include total statewide county inventory tax revenue, total credits claimed for inventory tax payments by entity type, and total credits allocated by entity type
- Brings forward existing Section 27-7-22.5 which allows manufacturers, distributors, and merchants to claim income tax credits for ad valorem taxes paid on inventory held for resale
- Effective date is July 1, 2026, with automatic repeal on June 30, 2026 (note: the repeal date appearing before the effective date suggests a drafting error)
Legislative Description
Inventory tax; require Department of Revenue to provide report containing certain 2025 information regarding.
Last Action
Referred To Ways and Means;Accountability, Efficiency, Transparency
2/26/2026
Committee Referrals
Ways and Means2/26/2026
Finance1/19/2026
Full Bill Text
No bill text available