Mississippi Tax Rate
Did you know, 32 states have a progressive tax structure, which means there are various tax rates based on your income? Mississippi (MS) is one of the states with a progressive tax structure. Learn more about the Mississippi tax rate in this post.
General MS Tax Rate Information
Need MS tax rate information?
First, gauge if you need to file a state income tax return in the state. Here are the parameters:
- If you are claiming a single tax filing status and have a gross income of $8,300 plus $1,500 for each dependent, you need to file taxes in the state.
- If you are filing jointly as a married resident and you and your spouse have gross income in excess of $16,600 plus $1,500 for each dependent or more.
What Are The Mississippi Tax Brackets?
Mississippi individual income tax rates vary from 0 to 5%, depending upon filing status, and taxable income.
Here is information about Mississippi Tax brackets from the state’s Department of Revenue:
Mississippi has a graduated tax rate. These rates are the same for individuals and businesses. There is no tax schedule for Mississippi income taxes.
The graduated income tax rate is:
- 0% on the first $2,000 of taxable income
- 3% on the next $3,000 of taxable income
- 4% on the next $5,000 of taxable income
- 5% on all taxable income over $10,000
More Help With Taxes in Mississippi
Did you know you can deduct state taxes from your federal return? Get help with H&R Block Virtual! With this service, we’ll match you with a tax pro with Mississippi tax expertise. Then, you will upload your tax documents, and our tax pros will do the rest! We can help with your MS taxes, including federal deductions for paying state taxes.
Prefer a different way to file? No problem – you can find Mississippi state tax expertise with all of our ways to file taxes.
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You can claim the standard deduction or itemize deductions to lower your taxable income. The standard deduction lowers your income by one fixed amount. On the other hand, itemized deductions are made up of a list of eligible expenses. You can claim whichever lowers your tax bill the most.