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Tuesday, November 26, 2024

Residents and visitors to Mississippi paid $7.9 billion in taxes in 2018

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Mississippi collected $7.9 billion in taxes in 2018, a 2.1 percent increase from the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Most tax revenue came from sales and gross receipts taxes ($5 billion) and income taxes ($2.3 billion).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

2018 Mississippi Tax Collections
Type of TaxAmount
Property taxes$29,540,000
Sales and gross receipts taxes$5,030,854,000
License taxes$492,415,000
Income taxes$2,290,344,000
Other taxes$47,418,000
General sales and gross receipts taxes$3,557,752,000
Selective sales and gross receipts taxes$1,473,102,000
Alcoholic beverages sales tax$40,883,000
Amusements sales tax$129,880,000
Insurance premiums sales tax$338,576,000
Motor fuels sales tax$436,245,000
Pari-mutuels sales tax$0
Public utilities sales tax$1,496,000
Tobacco products sales tax$139,733,000
Other selective sales and gross receipts taxes$386,289,000
Alcoholic beverages license$1,252,000
Amusements license$26,515,000
Corporations in general license$137,989,000
Hunting and fishing license$2,703,000
Motor vehicle license$158,283,000
Motor vehicle operators license$14,362,000
Public utilities license$6,583,000
Occupation and business license, nec$81,682,000
Other license taxes$63,046,000
Individual income taxes$1,852,937,000
Corporations net income taxes$437,407,000
Death and gift taxes$0
Documentary and stock transfer taxes$0
Severance taxes$47,418,000
Taxes, nec$0

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