Mississippi state income tax to reduce over the next four years
MISSISSIPPI (WCBI) – July first means new laws go on the books in Mississippi but there’s one that will not have an impact until next year.
Lawmakers agreed on this past session to reduce the state income tax over the next four years.
Starting in 2023, the four percent income tax bracket will be eliminated.
In the following three years, the 5% bracket will be reduced to 4%.
This means after the first year, the taxable free income levels will be $18,300 hundred for a single person and over $36,000 for a married couple.