HB4033

Mississippi HB4033 imposes a 5% tax on the sale of agricultural land owned by nonresident aliens.

Mississippi HB4033 amends the state's tax code to impose a 5% tax on the sale of agricultural land owned or possessed in majority part by any nonresident alien at the time of sale. The bill defines "nonresident alien" as an individual, trust, organization, corporation, partnership, limited partnership, limited liability company, trustee, or other entity domiciled in a country other than the United States, or domiciled within the United States but majority-owned by a nonresident alien. The tax applies to land used for agricultural purposes, including crops, livestock, and poultry.