The special committee formed by House Speaker Philip Gunn and Lt. Gov. Tate Reeves to study the state’s tax structure and make recommendations to the Legislature will meet again Monday.
The meeting will occur against the backdrop of a new report from the conservative, Washington, D.C.,-based Tax Foundation showing Mississippi dropping in terms of the states with the best business tax climate. According to the report, released this week, Mississippi has the 28th best business tax climate for fiscal year 2017, or, it could be described as the state having the 28th most competitive tax structure.
That is a drop from 26th last year, from 22nd in 2015 and 21st in 2014. The decline has occurred even as the Republican leadership in the Mississippi Legislature has pushed through multiple tax cuts totaling more than $300 million. But as the Tax Foundation report pointed out, as tax cuts passed during the 2016 session for businesses and on personal income totaling more than $400 million are phased in over the next decade, Mississippi’s ranking is likely to improve.