§ 27-25-523. Ad valorem exemptions
All oil produced or under the ground on producing properties within the State of Mississippi and all producing oil equipment, including wells, connections, pumps, derricks and other appurtenances actually owned by and belonging to the producer, and all leases in production, including mineral rights in producing properties, shall be exempt from all ad valorem taxes […]
§ 27-25-525. Constitutionality
If any clause, sentence, paragraph or part of this article shall, for any reason, be adjudged by any court of competent jurisdiction to be invalid, which changes or materially affects the scheme and method of taxation herein provided for, or which in anywise prevents or modifies the exemptions provided for under Section 27-25-523 hereof, then […]
§ 27-25-313. Returns
The taxes levied by this article shall be due and payable on or before the twentieth day of the month next succeeding the month in which the tax accrues. The taxpayer shall make a return on a form provided by the commissioner showing the period covered, the amount and value of the production for the […]
§ 27-25-315. Administration
All administrative provisions of the Mississippi Sales Tax Law, including those which fix damages, penalties and interest for nonpayment of taxes and for noncompliance with the provisions of said chapter, and all other requirements and duties imposed upon taxpayers, shall apply to all persons liable for taxes under the provisions of this article, and the […]
§ 27-25-501. Definitions
Whenever used in this article, the following words and terms shall have the definition and meaning ascribed to them in this section, unless the intention to give a more limited meaning is disclosed by the context: “Tax commission” or “department” means the Department of Revenue of the State of Mississippi. “Commissioner” means the Commissioner of […]
§ 27-25-503. Privilege tax levied; exemptions
Except as otherwise provided in this section, there is levied, to be collected as provided in this article, annual privilege taxes upon every person engaging or continuing within this state in the business of producing, or severing oil from the soil or water for sale, transport, storage, profit or for commercial use. The amount of […]
§ 27-25-505. Distribution of tax
[With regard to any county which is exempt from the provisions of Section 19-2-3, this section shall read as follows:] All taxes levied in this article and collected by the Department of Revenue shall be paid into the State Treasury on the same day collected. Except as otherwise provided in this section, the commissioner shall […]
§ 27-25-506. Special fund for deposit of state’s share of oil and gas severance taxes collected; deposits into Budget Contingency Fund
There is created a special fund in the State Treasury into which the state’s share of proceeds collected under Sections 27-25-505 and 27-25-705 shall be deposited. The state’s share of all oil and gas severance taxes derived from oil and gas resources under state-owned lands or from severed state-owned minerals shall be deposited into the […]
§ 27-25-507. Escaped oil; additional collection pending claims of ownership
When any regular monthly report required from taxpayers by this article, does not disclose the actual source of any oil taxable under this article, but does show such oil to have escaped from a well or wells and to have been recovered from streams, lakes, ravines, or other natural depressions, it shall be the duty […]
§ 27-25-309. Records
Every person engaged in the business of producing salt in this state, or who is in charge of production operations, and who is required to pay the tax imposed by this article, shall make and keep, for a period of three (3) years, a complete and accurate record to substantiate all taxes accrued hereunder, showing […]