VOL. 129 | NO. 27 | Monday, February 10, 2014
Mississippi Bill Could Allow Companies to Pay Less Tax
JEFF AMY | Associated Press
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 This material may not be published, broadcast, rewritten or redistributed.