HB4004

Mississippi HB4004 exempts tractors, agricultural implements, equipment, and vehicles from ad valorem taxation when held by bona fide dealers as.

Mississippi HB4004 amends Section 27-31-1 of the Mississippi Code of 1972 to exempt tractors, agricultural implements, equipment, and vehicles from ad valorem taxation while in the hands of a bona fide dealer as merchandise on a floor plan, consignment, or other basis. This exemption applies to items not already exempt under Section 27-51-41(2). The bill does not affect any claims, assessments, appeals, suits, rights, or causes of action for taxes due or accrued before the act becomes effective. The act takes effect from and after January 1, 2027.