History of Actions | Background | Title |
Description: Taxation; revise various income tax provisions for married persons, 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: Reeves
Code Sections: A 027-0007-0017, A 027-0007-0021, A 027-0007-0009, A 027-0007-0095, A 027-0007-0103, A 027-0065-0017
Title: AN ACT TO AMEND SECTIONS 27-7-17 AND 27-7-21, MISSISSIPPI CODE OF 1972, TO INCREASE THE INCOME TAX OPTIONAL STANDARD DEDUCTION AND THE PERSONAL INCOME TAX EXEMPTION FOR MARRIED INDIVIDUALS AND HEADS OF HOUSEHOLDS OVER A PERIOD OF FOUR YEARS; TO AMEND SECTIONS 27-7-9, 27-7-95 AND 27-7-103, MISSISSIPPI CODE OF 1972, TO INCREASE THE LIMITATION ON THE EXCLUSION FROM CAPITAL GAINS ON THE SALE OR EXCHANGE OF A RESIDENCE BY A MARRIED TAXPAYER WHO HAS ATTAINED THE AGE OF FIFTY-FIVE; TO INCREASE THE LIMITATION ON ALLOWANCES OF LOSSES FROM SALES OR EXCHANGES OF CAPITAL ASSISTS BY MARRIED TAXPAYERS; 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 THREE PERCENT OVER A PERIOD OF FOUR YEARS; AND FOR RELATED PURPOSES.
End Of Document
1997/History/HB\HB0771.htm