JACKSON, Miss. – Do you think you are paying too much for taxes in Mississippi? Mississippi’s state and local taxes ranked 44 out of 50 states in “fairness” in a new WalletHub report.
Despite the high ranking, Mississippi has some of the lowest taxes in the nation.
Most Americans think that most of the 50 states tax the poor too much and the rich too little, but the tax structures of some states are “fairer” than others, according to the survey. Most said a progressive tax system is more fair, but almost every state has a regressive state and local tax system, according to the WalletHub survey.
Middle class in Mississippi gets slammed hard with taxes. The Magnolia state was listed fourth out of the top 10 states where the middle class is most overtaxed in the country. Montana’s taxes rated most fair and Washington’s least fair.
But you may be seeing a tax break soon. Clarion Ledger reports, GOP legislative leaders and Gov. Phil Bryant, with a larger state budget, say they’ll look at providing an income tax break for Mississippians in the 2015 legislative session.
The full WalletHub Report here: