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VOL. 129 | NO. 27 | Monday, February 10, 2014

Mississippi Bill Could Allow Companies to Pay Less Tax

JEFF AMY | Associated Press

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JACKSON, Miss. (AP) – Some Mississippi lawmakers want to make it harder for the state to question the taxes of multistate corporations.

The state House voted 113-2 Friday to approve House Bill 799 (http://bit.ly/1ngrDh8), which now goes to the Senate.

The bill would require a higher standard of proof before the Mississippi Department of Revenue could require companies to report income across all states.

Such combined reporting can prevent companies from avoiding Mississippi taxes by shifting income to other states, including those with no corporate income tax.

Department of Revenue Spokeswoman Kathy Waterbury says the bill poses administrative problems. It would require the department to mail certified letters to every taxpayer it rules against.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 324 13,221
MORTGAGES 107 477 17,235
FORECLOSURE NOTICES 2 64 3,362
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 67 276 12,619
BUSINESS LICENSES 22 87 4,576
UTILITY CONNECTIONS 71 487 19,380
MARRIAGE LICENSES 28 122 4,031

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