NFIB State Director Dawn McVea released the following statement this evening following Gov. Tate Reeves’ State of the State address:
“Our small business members were thrilled to hear Governor Reeves’ pledge to eliminate the state income tax once and for all. This is something that’s along overdue. Small businesses simply cannot afford to continue overpaying to run state government. Eliminating the state income tax would put more money in people’s pockets and make it easier for Main Street businesses to expand, add jobs, and pay higher wages.” The vast majority of small businesses in Mississippi are organized as pass-through entities, meaning any profits pass through the business directly to the owner, who pays taxes at the individual rather than the corporate tax rate.
“Eliminating the state income tax would relieve a lot of the financial pressure on local businesses. We look forward to working with Governor Reeves and legislative leaders to make the governor’s plan a reality in this year’s session.”