MISSISSIPPI TAX CUTS
The article's second point highlights the Mississippi Tax Freedom Act of 2022, exempting income up to $18,000 from the state's income tax. That change lowers a Mississippi family’s tax bill by an average of $800/year.
The fourth part of the article points out the three fastest-growing states in the South, Florida (which again gained a Congressional seat in the 2020 census), Texas (which again gained two Congressional seats in the 2020 census), and Tennessee. These three states have something else in common besides being located in the South. None of them impose a state level income tax.
Other states with no personal income tax are:
- New Hampshire (But it taxes dividends and interest),
- South Dakota,
One needs only look to initiatives in Georgia, Alabama, and Nebraska to see that these three states are on their way to overtaking the states that presently have no personal income tax. Georgia, Alabama, and Nebraska not only seek to eliminate personal income taxes but replace all income taxes with a consumption tax modeled on the FAIRtax.
And here is a list of states that have personal income taxes where there are calls to do away with them, including Mississippi:
- South Carolina.
- West Virginia.
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