NFIB State Director Dawn McVea has expressed support for Governor Tate Reeves’ proposal to eliminate the state income tax. This announcement came after Governor Reeves’ State of the State address.
“Our small business members were thrilled to hear Governor Reeves’ pledge to eliminate the state income tax once and for all. This is something that’s long overdue,” McVea stated. She emphasized that small businesses struggle with overpaying for state government operations, and eliminating this tax could benefit them by increasing disposable income, aiding expansion, job creation, and allowing higher wages.
Most small businesses in Mississippi operate as pass-through entities, where profits are taxed at the individual rate rather than the corporate level. “Eliminating the state income tax would relieve a lot of the financial pressure on local businesses,” McVea added.
The NFIB looks forward to collaborating with Governor Reeves and legislative leaders to implement this plan in the current session.
