The Mississippi Legislature will have $170 million more to spend during the 2015 session, which starts in January, than it did during the 2014 session, based on the revenue estimate adopted Monday. The Legislative Budget Committee, which consists of Speaker Philip Gunn, Lt. Gov. Tate Reeves and legislative leaders, met with a representative of Gov. … Continue reading Legislative Budget Committe adopts 3-percent increase in revenue estimates for FY 2016
State revenue agents are on the lookout for property owners and operators renting beach lots to cruisers. The Mississippi Department of Revenue wants its 7 percent sales tax on the income from the rentals. Mississippi charges sales tax for transient cars, trucks, trailers and recreational vehicles parked for a fee. Paid parking lots and garages … Continue reading State agents with DOR are ‘Cruising the Coast’ this weekend looking for unpaid taxes.
Revenue generated from 16th Section land across the State reached record levels in 2012 -- approximately $89,223,643 -- all of which goes directly to the education of our children. "This $89 million will help alleviate some of the financial headaches faced by our school districts today. In times of serious cutbacks and strict budgets, we … Continue reading Hosemann says revenue generated from 16th Section land reaches record levels.
Among states in the Southeast, which include Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and West Virginia, no state had a higher percentage increase in personal income tax collections than did Mississippi and the state was 15 percentage points higher than the next highest state from that group. Likewise, … Continue reading SALTER: MS tax collections increase bucks national trend.
House Appropriations Chair Herb Frierson, R-Poplarville, said the state is poised to end the fiscal year later this month with a “substantial” surplus, based on May tax collections. For May, the state collected $170.9 million, or 44.5 percent, more than the amount the state’s fiscal leaders projected would be collected. Those official projections were used … Continue reading Mississippi may have more money in FY 2014.
Mississippi casino revenue kept falling in April, with gamblers losing less than in any other April since 1998. Mississippi Department of Revenue figures show statewide casino revenue fell 6 percent to $176.3 million. Year-over-year casino revenue has fallen in every month since July 2012. The state’s casinos, over the last 12 months, have collected only … Continue reading State casino’s April revenue worst since 1998.
(House Appropriations Chairman Herb) Frierson said the areas where they are still trying to decide on a funding level are on wireless communications and additional funds for higher education, primarily to deal with tornado damage at the University of Southern Mississippi in Hattiesburg. Frierson said he and (Senate Appropriation Chairman Buck) Clarke agreed to provide … Continue reading State budget deadline is midnight Saturday.
The MS Department of Finance & Administration has determined that, on the basis of receiving the highest evaluation score, the Mississippi Department of Revenue should execute a 20 year lease agreement with Duckworth Realty for the relocation of its offices to the South Pointe Building (the former Worldcom Building) in Clinton, MS. The initial annual … Continue reading DFA: Dept. of Revenue should be in Clinton.
Truth is, the Legislature does not know if the overall state budget and agency sub-budgets will balance or not. That’s why the state maintains a “rainy day fund.” That’s also why the Governor has authority to slash agency budgets should revenues fall substantially below target. The revenue side of the budget comes from best-guess projections … Continue reading Crawford: Balanced budget really isn’t.
Mississippi lawmakers have ignored, and killed, two bills that would've allowed cities to impose a local sales tax. Under the bills that died Wednesday, cities could have held elections to see if citizens approved of an additional 1 percent tax for specific capital projects. If at least 60 percent of voters said yes, the tax … Continue reading Local option sales tax bills die in House and Senate.