Mississippi HB1331 would allocate a portion of sales tax revenue from short-term motor vehicle rentals to the Economic Development and Infrastructure.
Mississippi HB1331 amends the state sales tax law to impose a six percent tax on gross proceeds from renting motor vehicles for up to thirty continuous days. The bill directs that a portion of this tax revenue be deposited into the Economic Development and Infrastructure Fund, while the remaining proceeds are to be distributed to the county, municipality, and school district where the rental transaction occurred. This distribution follows the same proportion as ad valorem taxes.
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