History of Actions | Background | Title |
Description: Taxation; increase income tax standard deduction and exemption for married individuals, reduce sales tax on certain food items.
| 1 | 01/08/97 | (H) | Referred To Ways and Means | |
| 2 | 02/26/97 | (H) | Died In Committee |
| Effective date | July 1, 1997 | |
| Disposition | Dead | |
| Deadline | Revenue/Appropriation | |
| Revenue | Yes | |
| 3/5ths vote required | Yes |
House Committee:
Principal Author: Formby
Code Sections: A 027-0007-0017, A 027-0007-0021, A 027-0065-0017, A 027-0065-0075
Title: AN ACT TO AMEND SECTION 27-7-17, MISSISSIPPI CODE OF 1972, TO INCREASE THE INCOME TAX OPTIONAL STANDARD DEDUCTION FOR MARRIED INDIVIDUALS; TO AMEND SECTION 27-7-21, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $9,500.00 TO $12,000.00 THE EXEMPTION FROM INCOME TAX ALLOWED FOR MARRIED INDIVIDUALS; TO AMEND SECTION 27-65-17, MISSISSIPPI CODE OF 1972, TO REDUCE THE TAX ON RETAIL SALES OF CERTAIN FOOD ITEMS, BY LOWERING THE TAX FROM SEVEN PERCENT TO SIX PERCENT; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE DISTRIBUTION OF SALES TAX REVENUES THAT ARE DIVERTED TO THE EDUCATIONAL ENHANCEMENT FUND SHALL NOT BE CHANGED AS A RESULT OF THE REDUCTION IN SALES TAX ON FOOD ITEMS; AND FOR RELATED PURPOSES.
End Of Document
1997/History/HB\HB0770.htm