AP Newsbreak: Reeves to propose cutting franchise tax

JACKSON, MISS. — Embracing one of the business community’s long-held tax reduction goals, Lt. Gov. Tate Reeves will propose eliminating the franchise tax on business capital Tuesday as part of a larger package of tax cuts.

Senate Finance Committee Chairman Joey Fillingane, R-Sumrall, confirmed to The Associated Press that Reeves will propose on Tuesday a phased-in elimination of the $220-million-a-year franchise tax. He said it also will include tax relief for individuals.

“I think you’re going to see, once the plan is unveiled, that all the taxpayers in the state are going to get relief,” Fillingane said Monday….

…Sen. Debbie Dawkins, D-Pass Christian, said business tax breaks aren’t reaching average people.

“It’s supposed to encourage job production, but I don’t see it happening in my community,” Dawkins said.

The Olympian