Author Topic: Red State [MS] Eliminates Income Taxes  (Read 2522 times)

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Offline 240B

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Red State [MS] Eliminates Income Taxes
« on: March 29, 2025, 10:50:37 am »

Red State Eliminates Income Taxes

Trending Politics News
By Chris Powell
March 28, 2025

Mississippi has officially joined the small group of states that do not tax personal income. Governor Tate Reeves signed House Bill 1 — dubbed the “Build Up Mississippi Act” — into law Thursday, eliminating the state’s individual income tax through a phased-in process over the next several years.

“I am proud to sign into law a complete elimination of the individual income tax in the state of Mississippi,” Governor Tate Reeves (R-MS) said. “Let me say that again: Mississippi will no longer tax the work, the earnings, or the ambition of its people.”

“The legislation I’m signing today puts us in a rare class of elite, competitive states. There are only a handful of states in the country that do not tax income. Today, Mississippi joins their ranks – and in doing so, we plant our flag.”

The new law cuts Mississippi’s current individual income tax rate of 4.4% down to 3% by 2030, with gradual 0.25% decreases each year starting in 2026. If state revenues hit specific growth benchmarks, those reductions will continue annually until the rate eventually falls to zero.

Governor Reeves has long made the elimination of the state income tax a cornerstone of his political platform. Wednesday’s signing marks the culmination of years of effort, dating back to his time as lieutenant governor.

(more)
https://trendingpoliticsnews.com/new-red-state-eliminates-income-taxes-mace/
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