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Mississippi is eliminating its state income tax

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Texasmoneyman300
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29 Mar 2025, 10:28 pm

I saw on YouTube that Mississippi is becoming the latest state to eliminate its state income tax. It is joining states like Nevada and Alaska and Florida and Texas and other states that dont have income tax. This tax cut will mainly help the rich and high-income people in that state. Mississippi will most likely have to raise property and/or sales taxes to make up for the loss of the income tax. They will have to raise taxes on the working and middle classes for this. Mississippi is a red state.



Last edited by Texasmoneyman300 on 30 Mar 2025, 2:12 am, edited 1 time in total.

Rossall
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29 Mar 2025, 10:32 pm

Thank god I live in the UK.


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Tim_Tex
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29 Mar 2025, 11:37 pm

Mississippi: Come here and feel better about your own state.


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funeralxempire
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30 Mar 2025, 3:51 pm

Seems like a bad idea, but also completely on-brand for a red state to seek ways to make their tax structure more regressive.


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ToughDiamond
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03 Apr 2025, 1:24 am

Texasmoneyman300 wrote:
I saw on YouTube that Mississippi is becoming the latest state to eliminate its state income tax. It is joining states like Nevada and Alaska and Florida and Texas and other states that dont have income tax. This tax cut will mainly help the rich and high-income people in that state. Mississippi will most likely have to raise property and/or sales taxes to make up for the loss of the income tax. They will have to raise taxes on the working and middle classes for this. Mississippi is a red state.

Well, in the UK the only local taxation I've ever been charged is on property, though I gather tenants also usually have to pay it for their landlords. Must confess I've never understood US taxes though.



mwalker1996
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03 Apr 2025, 6:01 am

I personally don't see it as a bad thing as long as they have a way to compensate for it. Mississippi isn't the most desirable state to live in, but having no state income tax would bring businesses over.