Ad valorem tax; exempt certain business personal property from.

Summary

The bill would prevent Mississippi from taxing certain furniture, fixtures, or equipment that a business owns and uses only on its own premises, provided the item’s true value is $25 or less. It excludes motor vehicles, Class IV property, and items that can already be claimed as an income‑tax credit. The exemption would start on Jan 1 2027, with the law becoming effective July 1 2026.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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