Mississippi Considers Sales Tax Holiday for Guns, Ammunition
- Mar 6, 2014 | Gail Cole
Mississippi lawmakers are considering creating an annual sales tax holiday for firearms, firearm supplies and ammunition. Numerous hunting supplies would also be exempt under the bill.
HB 1539 would exempt from sales tax “retail sales of firearms, ammunition and hunting supplies when sold during the annual Mississippi Second Amendment Weekend Holiday beginning at 12:01 a.m. on the first Friday in September and ending at 12:00 midnight on the following Sunday.” It was approved and transmitted to the state Senate on March 3, 2014.
Republican Jeff Smith, Chairman of the House Ways and Means Committee, predicts the state would lose $375,000 in sales tax revenue annually if the tax-free period becomes law.
House Bill 1404 and Senate Bill 2425 also seek to establish tax breaks for guns. To date, HB 1536 has seen the most support.
There must be something in the air, as Alabama lawmakers are also considering a sales tax holiday for firearms, firearm supplies and ammunition. Louisiana typically offers a Second Amendment sales tax holiday in September, and Texas lawmakers considered adding one last year.
How does your business account for sales tax holidays?
photo credit: RW PhotoBug via photopin cc
