Mississippi HB954 reduces the sales tax rate on retail sales of motorcycles from seven percent to five percent.
Mississippi HB954 amends Section 27-65-17 of the Mississippi Code of 1972 to lower the sales tax rate on retail sales of motorcycles from seven percent to five percent. The bill specifies various tax rates for different types of sales, including machinery, equipment, and materials used in various industries. It also outlines tax rates for sales to technology intensive enterprises and other specific categories. The changes are set to take effect from July 1, 2026.
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