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Tax Structure

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State Gross Public Debt

Debt Per Capita

$2,633.33

Total Debt of State

7.9 Billion

Total Debt of Local Governments

7.3 Billion

Combined Total Debt

15.1 Billion

Gross Domestic Product(GDP)

117.6 Billion

Real Estate Growth

0.8%

Median Total State and Local Taxes

National Median Total State and Local Tax Rate Per Household

11.99%

National Median Total State and Local Taxes Paid Per Household

$6,962

State Median Total State and Local Taxes Paid Per Household

$5,056

Difference Between National Median and State Median

11.45%

State Bond Ratings

Fitch

AA

Moody's

Aa2

S&P Global

AA

State Income Tax

Income Tax Rate

3.0 - 5.0%

Number of Brackets

3

Top Income Range

$10,000

State Real Estate Tax

Mean Real Estate Tax Rate

0.80%

Mean Real Estate Taxes Paid

$879

State Unemployment Insurance Tax

New Employer Tax Rate

1.00%

Sales Tax

State Sales Tax Rate

7.00%

Winston County

0.00%

Attala County

0.00%

Leake County

0.00%

Neshoba County

0.00%

Kemper County

0.00%

Choctaw County

0.00%

Oktibbeha County

0.00%

Lowndes County

0.00%

Noxubee County

0.00%

Minimum Sales Tax Rate (State and County)

7.00%

Maximum Sales Tax Rate (State and County)

7.00%

Sources:

Tax Foundation