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State Tax Credits in Alabama and Mississippi: New and Expanded Investment Opportunities

Cherry Bekaert

Alabama and Mississippi are two of the latest states to create new state tax credits and extend existing state tax credits. Mississippi Amends Contribution State Tax Credits and Creates New Tax Credits Mississippi legislation amends its existing Pregnancy Resource Act ad valorem credit, effective January 1, 2023.

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Mississippi Tax Preparers Sentenced to Prison for False Tax Return Conspiracy

CPA Practice

A group of Mississippi tax return preparers were sentenced to prison on February 22, 2024, for charges related to a conspiracy to prepare and file false tax returns for clients in Jackson, Mississippi. Each was also ordered by U.S. District Court Judge Daniel P.

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Weather victims in Mississippi, Iowa get tax relief

Accounting Today

The IRS is pushing back both filing and payments deadlines for impacted taxpayers.

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Mississippi AG Preps Antitrust Suit Against Google

PYMNTS

The Mississippi Attorney General (AG) revealed that his office is preparing an antitrust case against Google , accusing the tech giant of controlling a “pipeline” of data. “We We attorneys general have authority under consumer protection acts to do both,” said Mississippi Attorney General Jim Hood, according to CNBC , on Monday (March 18).

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Why are some states’ sale taxes higher than others?

TaxConnex

The highest state-level rates are in California, Indiana, Mississippi, Rhode Island and Tennessee. Online sellers might be tempted to look only at statewide rates to determine their obligations. The lowest state-level sales tax (aside from the NOMADs) is in Colorado, Alabama, Georgia, Hawaii, New York and Wyoming.

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Top 10 States for Credits and Incentives Opportunities

Cherry Bekaert

However, all job creation incentives typically require: 1) A minimum net job increase 2) Maintained jobs 3) Operations in certain industries or activities Jobs Tax Credits may be claimed on a retroactive basis in Georgia, South Carolina, Mississippi, Tennessee and Virginia in any open tax years. taxable wages for up to 15 years.

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Vitamins, supplements and sales tax – the latest

TaxConnex

Mississippi exempts vitamins and supplements purchased with food stamps; Vermont does so for purchases through the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC).

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