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Old 02-23-2021, 07:45 PM
 
799 posts, read 1,057,777 times
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https://www.djournal.com/news/state-...1dcb2acb4.html
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Old 02-23-2021, 09:08 PM
 
1,288 posts, read 1,855,099 times
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This will be interesting to follow. I don't think it can hurt, but I don't know if it will draw a ton of people or businesses into the state. I believe Fordice tired to do away with the state income tax 20+ years ago.

To replace the some of the income tax revenue:

*legalize online sports gambling

*legalize the recreational use of marijuana

*do whatever it takes to open a huge casino in Jackson near the stack/state fairgrounds, something similar to Harrahs in NOLA

Last edited by viverlibre; 02-23-2021 at 09:35 PM..
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Old 02-24-2021, 08:23 AM
 
Location: Jack-town, Sip by way of TN, AL and FL
1,701 posts, read 1,946,524 times
Reputation: 3012
Quote:
Originally Posted by viverlibre View Post
This will be interesting to follow. I don't think it can hurt, but I don't know if it will draw a ton of people or businesses into the state. I believe Fordice tired to do away with the state income tax 20+ years ago.

To replace the some of the income tax revenue:

*legalize online sports gambling

*legalize the recreational use of marijuana

*do whatever it takes to open a huge casino in Jackson near the stack/state fairgrounds, something similar to Harrahs in NOLA
Does make you wonder where we will make up the money. I thought I saw where sales tax was going to go up, which is fine by me.

I expect real estate prices to go up in Desoto County, as there will be no other reason not for Memphis Metro folks to live there.
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Old 02-24-2021, 09:29 AM
 
Location: NE Mississippi
25,352 posts, read 16,998,418 times
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Quote:
Originally Posted by Mississippi Alabama Line View Post
Does make you wonder where we will make up the money. I thought I saw where sales tax was going to go up, which is fine by me.

I expect real estate prices to go up in Desoto County, as there will be no other reason not for Memphis Metro folks to live there.
Actual proposal includes:
  • General sales tax from 7% up to 9.5%
  • Liquor sales tax from 7% up to 9.5%
  • Farm equipment sales tax from 1.5% up to 4%
  • Sales tax on cars, trucks, planes and mobile homes from 3% up to 5.5%
  • Sales tax on manufacturing machinery from 1.5% up to 4%
I, personally, would rather keep the income tax, but that's not the way things are going. 9.5% General Sales Tax? Sounds high to me.
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Old 02-24-2021, 09:34 AM
 
3,358 posts, read 2,652,514 times
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It would be in my interest to cut sales taxes and increase income taxes.
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Old 02-24-2021, 09:51 AM
 
Location: Jack-town, Sip by way of TN, AL and FL
1,701 posts, read 1,946,524 times
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Quote:
Originally Posted by Listener2307 View Post
Actual proposal includes:
  • General sales tax from 7% up to 9.5%
  • Liquor sales tax from 7% up to 9.5%
  • Farm equipment sales tax from 1.5% up to 4%
  • Sales tax on cars, trucks, planes and mobile homes from 3% up to 5.5%
  • Sales tax on manufacturing machinery from 1.5% up to 4%
I, personally, would rather keep the income tax, but that's not the way things are going. 9.5% General Sales Tax? Sounds high to me.
It's really not that bad, most people will hardly even notice this amount. Very small amounts spread over the general population - that's a good thing IMO.
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Old 02-24-2021, 11:00 AM
 
799 posts, read 1,057,777 times
Reputation: 938
Quote:
Originally Posted by Mississippi Alabama Line View Post
Does make you wonder where we will make up the money. I thought I saw where sales tax was going to go up, which is fine by me.

I expect real estate prices to go up in Desoto County, as there will be no other reason not for Memphis Metro folks to live there.
You're right non grocery sales tax will increase to 9.5% according to the article. And you're also right counties will increase property taxes.
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Old 02-24-2021, 11:01 AM
 
799 posts, read 1,057,777 times
Reputation: 938
Quote:
Originally Posted by Mississippi Alabama Line View Post
It's really not that bad, most people will hardly even notice this amount. Very small amounts spread over the general population - that's a good thing IMO.
wait until your property taxes are the same as they are in texas.
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Old 02-24-2021, 12:37 PM
 
14,984 posts, read 23,768,940 times
Reputation: 26473
Quote:
Originally Posted by Mississippi Alabama Line View Post
Does make you wonder where we will make up the money. I thought I saw where sales tax was going to go up, which is fine by me.

I expect real estate prices to go up in Desoto County, as there will be no other reason not for Memphis Metro folks to live there.
People like me chose to live in Desoto country to get away from Memphis politics and Memphis crime. Sure the income tax hurt, TN has no state income tax. But overall it's always been cheaper in MS when you balance things out. Houses have always been more expensive in the Memphis areas well managed towns (i.e. not in Memphis city limits) - Germantown and Collierville.
So this will be a win for me - my house value will increase in Olive Branch, and since I am high income but not a huge consumer, my overall tax rate will go drastically down.
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Old 02-24-2021, 08:42 PM
 
Location: Jack-town, Sip by way of TN, AL and FL
1,701 posts, read 1,946,524 times
Reputation: 3012
Quote:
Originally Posted by Dd714 View Post
People like me chose to live in Desoto country to get away from Memphis politics and Memphis crime. Sure the income tax hurt, TN has no state income tax. But overall it's always been cheaper in MS when you balance things out. Houses have always been more expensive in the Memphis areas well managed towns (i.e. not in Memphis city limits) - Germantown and Collierville.
So this will be a win for me - my house value will increase in Olive Branch, and since I am high income but not a huge consumer, my overall tax rate will go drastically down.
Exactly.
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