§ 27-7-1101. Definitions
As used in this article, the following words shall have the meanings ascribed herein unless the context clearly requires otherwise: ” Account holder” means an individual who establishes, individually or jointly with one or more other individuals, an account with a financial institution for which the account holder claims a first-time home buyer savings account […]
§ 27-7-1103. Duties of account holders; contribution to first-time home buyer savings accounts excluded from gross income; limitations on amount of contributions; penalty for withdrawal of monies for purpose other than payment of eligible costs; financial institution obligations regarding accounts
An account holder shall be responsible for the use or application of monies or funds in an account for which the account holder claims first-time home buyer savings account status. An account holder shall: Not use monies or funds held in an account to pay expenses of administering the account, except that a service fee […]
§ 27-7-817. Collection assistance fee
To recover the costs incurred by the department and the member organization in collecting debts under this article, a total collection assistance fee of twenty-five percent (25%) shall be imposed on each debt collected through setoff. The department shall collect this fee as part of the debt and retain five percent (5%) for its administrative […]
§ 27-7-819. Transmittal of net proceeds collected to be accompanied by accounting of setoffs; credit of debtor’s obligation with net proceeds collected
Along with the transmittal of the net proceeds collected on behalf of the claimant local government, the department shall provide the local government with an accounting of the setoffs for which payment is being made. The accounting shall, whenever possible, include the full names of the debtors, the debtor’s social security numbers or federal tax […]
§ 27-7-821. Exchange of information necessary to effectuate article; confidentiality of information
The department, the local government or its member organization on its behalf may exchange information necessary to accomplish and effectuate the intent of this article. The information obtained by a local government or its member organization in accordance with the provisions of this article shall retain its confidentiality and shall only be used by the […]
§ 27-7-823. Promulgation of rules and regulations by department and local governments to implement and administer article
The department shall promulgate rules and regulations pursuant to the Mississippi Administrative Procedures Act which are necessary to implement and carry out its duties and functions under this article. Local governments may also promulgate rules and regulations necessary for the local administration of their authority granted under this article.
§ 27-7-901. Tax levied
There is hereby levied, assessed and shall be collected a tax of three percent (3%) upon amounts that are paid or credited by gaming establishments licensed under the provisions of the Mississippi Gaming Control Act to their patrons. The tax shall be collected by licensed gaming establishments and remitted to the State Tax Commission in […]
§ 27-7-903. Tax levied on certain amounts paid to patrons by gaming establishments not licensed under Mississippi Gaming Control Act
There is hereby levied and assessed upon patrons of gaming establishments located in this state that are not licensed under the provisions of the Mississippi Gaming Control Act, a tax of three percent (3%) of the amounts that are paid or credited to such patrons by the gaming establishment, which tax is the same in […]
§ 27-7-1001. Definitions
As used in this article, the following terms shall have the meanings as defined in this section: “Catastrophe savings account” means a regular savings account or money market account established by an insurance policyholder who is a state income taxpayer (i) to pay an insurance deductible under an insurance policy that covers the taxpayer’s legal […]
§ 27-7-1003. Catastrophe savings accounts excluded from taxable gross income; limitations on total amount of contributions to catastrophe savings accounts
Except as otherwise provided in Section 27-7-1005, the amounts contributed to a catastrophe savings account in accordance with subsection (3) of this section, interest income earned on a catastrophe savings account, and distributions from a catastrophe savings account shall be excluded from the taxable gross income of the account holder under Section 27-7-15. A catastrophe […]