Deal could phase out Mississippi’s corporate franchise tax

TAX CUT COMPROMISE: Mississippi’s corporate franchise tax would be phased out over a 10-year period under a deal being considered by the state legislature.
Mississippi’s corporate franchise tax could get the boot if a compromise reached during weekend talks is approved by both chambers of the Mississippi Legislature and signed by Gov. Phil Bryant.
The corporate franchise tax — which is assessed at a rate of $2.50 per $1,000 of capital or property, whichever is greater — would begin to be phased out in 2018 under Senate Bill 2858 and eliminated within 10 years.
The state’s 3 percent income tax bracket, assessed on the first $10,000 of income, would also

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