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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 This material may not be published, broadcast, rewritten or redistributed.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 98 440 10,282
MORTGAGES 129 503 12,017
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 1,028 21,997
BANKRUPTCIES 45 280 7,090
BUSINESS LICENSES 24 136 3,605
UTILITY CONNECTIONS 0 222 7,664
MARRIAGE LICENSES 28 117 2,580

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