Leah Long NFIB State Director | Official Website
Leah Long NFIB State Director | Official Website
NFIB State Director Dawn McVea expressed gratitude to Governor Tate Reeves for enacting House Bill 531, a measure designed to alleviate financial strain on Mississippi's small businesses by cutting taxes.
"This is a big victory for Mississippi’s small businesses, which are struggling with higher fuel prices and soaring inflation," McVea stated. She noted that while the complete elimination of the state income tax was desired, the bill's provisions will abolish the 4 percent tax bracket and reduce the 5 percent bracket to 4 percent by 2026. This change benefits many small businesses in Mississippi as they are structured as pass-through entities, requiring owners to pay taxes at individual rates rather than corporate ones.
McVea also extended thanks on behalf of NFIB members to House Speaker Philip Gunn, Lt. Gov. Delbert Hosemann, Sen. Josh Harkins, and Representatives Trey Lamar and Jason White for their collaborative efforts in crafting this legislation. She concluded her remarks by acknowledging Governor Reeves for his role in signing it into law.
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