A year-over-year slowdown of state revenue comes during the first year of the phase-in of the largest tax cut in state history.
by Bobby Harrison, Mississippi Today October 10, 2023 Mississippi tax collections have taken a downward trend during the first quarter of the new fiscal year as the state has collected $18.9 million or 1.02% less than what was collected during the same time last year. The slowdown comes during the first year of the phase-in of the largest tax cut in state history.
Mississippi lawmakers pass the largest tax cut in state history According to the revenue report recently released by the staff of the Mississippi Legislative Budget Committee, the state collected $1.83 billion between July 1 and Sept. 30. The slowdown in collections comes on the heels of unprecedented growth in recent years. But the slowdown, unless it gets much worse, should not impact the state budget for the current fiscal year.
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