Mississippi Department of Revenue, Mississippi Tax

Mississippi Business Corporate Tax, Mississippi Personal Income Tax, Mississippi Sales Tax Rates

What is the Mississippi corporate net income tax rate(s)?

What is the Mississippi personal net income tax rate(s)?

What is the average Mississippi sales tax rate(s)?

7%

Are there standard deductions?

Single:  $2,300
Joint:  $4,600

Are there personal exemptions?

Single:  $6,000
Dependants:  $1,500

What forms do you file for your Mississippi taxes?

C corporations:   Form 83-105
S corporations:  Form MS83-105
Partnerships:  Form 80-105
Individual:  Form 80-105

Estimated tax payments?

Corporations must make estimated payments if their tax liability is over $200. Mississippi follows the IRS standards for estimated payments. If you will owe $200 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won't make as much in the current year. Mississippi individuals file form 80-300.

Mississippi Department of Revenue:

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