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Tax Structure

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State Government Tax Collections

Total Taxes

$5,393,093

Property Taxes

$129

Sales and Gross Receipts Taxes

$2,502,020

General Sales and Gross Receipts Taxes

$1,900,037

Selective Sales and Gross Receipts Taxes

$601,983

Alcoholic Beverages Sales Tax

$31,230

Amusements Sales Tax

$5,815

Insurance Premiums Sales Tax

$62,662

Motor Fuels Sales Tax

$373,889

Pari-mutuels Sales Tax

$138

Public Utilities Sales Tax

$44,942

Tobacco Products Sales Tax

$57,123

Other Selective Sales and Gross Receipts Taxes

$26,184

License Taxes

$196,215

Alcoholic Beverages License

$707

Amusements License

$710

Corporations in General License

$16,086

Hunting and Fishing License

$15,906

Motor Vehicle License

$113,733

Motor Vehicle Operators License

$11,538

Occupation and Business License, NEC

$36,475

Other License Taxes

$1,060

Income Taxes

$2,674,286

Individual Income Taxes

$2,360,596

Corporations Net Income Taxes

$313,690

Other Taxes

$20,443

Documentarty and Stock Transfer Taxes

$17,207

Severance Taxes

$3,236

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%

Source:
AvaTax
California State Treasurer's Office
Census Bureau
Department of Labor
Department of Revenue
Tax Foundation