Phasing Out State Income Tax Would Help MS Small Businesses

Date: November 17, 2020

NFIB State Director Dawn Starns said eliminating the state income tax would help Mississippi’s small businesses grow and create jobs. Gov. Tate Reeves said Monday he supports phasing out the individual income tax by 2030.

“This is a big deal to small business owners because most small businesses are organized as ‘pass-through entities,'” Starns said. “That includes sole proprietorships, partnerships, LLCs, and S corporations and means the owners pay taxes at the individual rate rather than the corporate rate.”

“Phasing out Mississippi’s individual income tax would greatly reduce the financial burden on small business owners and make it easier for them to grow their businesses and create jobs.

“We look forward to working with Governor Reeves and legislators on this important issue.”

The National Federation of Independent Business is the nation’s leading small business advocacy organization. To learn more about NFIB in Mississippi, visit www.NFIB.com/MS and follow @NFIB_MS on Twitter.

Related Content: Small Business News | Mississippi | Taxes

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