THANK YOU JESUS! 🙌

🚨 MISSISSIPPI JUST ELIMINATED ALL STATE INCOME TAXES!

There are details, however, that everyone should be aware of. Let’s break it down:

• This is it’s not an immediate elimination—rather, it’s a gradual process set to unfold.

• The new law, stemming from House Bill 1, sets Mississippi on a path to become the first U.S. state (aside from oil-rich Alaska) to fully eliminate an existing state income tax.

• Mississippi’s current income tax rate is 4% on taxable income above $10,000 (as of 2024, the 3% bracket was already phased out).

• From 2027 to 2030, the rate will drop by 0.25% each year, reaching 3% by 2030.

• After 2030, further reductions depend on “growth triggers”—if state revenue exceeds spending by certain thresholds, the tax rate will continue to decrease incrementally (e.g., 0.20%, 0.25%, or 0.30% per year) until it hits zero.

• If revenue growth cooperates, the income tax could be fully gone by the mid-2030s, possibly around 2037-2039, though this hinges on economic conditions.

- To offset the loss of about $2.1 billion annually (roughly 30% of the state’s general fund), the law increases other taxes, like the gasoline tax, and adjusts sales tax distribution.

• What You Won’t Have to Pay Anymore (Eventually)
Once the income tax is fully eliminated:
—— No State Income Tax on Wages
—— You won’t owe Mississippi any tax on your salary, hourly earnings, or other employment income, no matter how much you make.
—— No Tax on Certain Investment Income
—— Interest, dividends, and other unearned income currently taxed at the state level will no longer face a Mississippi income tax.

• Mississippi residents won’t need to file a state income tax return (unless other taxes, like self-employment taxes, still apply in some form).

• A lot More Take-Home Pay: A family earning $80,000 jointly could save around $2,800 annually once the tax is gone, assuming no other changes.

• What You’ll Still Pay (or Pay More Of)
—— Higher Gasoline Tax: The gas tax will rise from 18.4 cents to 27.4 cents per gallon by July 2027, a 9-cent increase.
—— Sales Tax Adjustments: The grocery sales tax drops from 7% to 5% starting July 1, 2025, which is a win for food shoppers.

So for now, it’s business as usual with a slightly lower grocery bill come July.

https://rumble.com/v6rc4x4-mis....sissippi-just-elimin