There are indications that recent legislative actions will increase the state’s ranking in tax system rankings by at least one measure. The Tax Foundation in Washington, D.C., which monitors government tax policies shows Mississippi’s tax system as No. 28 of the 50 states. According to the report, Mississippi’s tax system is broken down as follows: Wyoming has the most competitive tax system. Louisiana is ranked No. 10 in the worst environment. 41. Arkansas ranks 38th; Alabama 32nd. Tennessee is No. 13. “In 2016, Mississippi began a gradual phase out of its capital stock tax. It will end in 2018 and be completely repealed by 2028. Starting in 2018, the state will begin to reduce its individual and corporate income tax rates. The report’s authors wrote that these changes would be reflected in future editions of the Index. For the privilege to do business in Mississippi, the capital stock tax is known as the franchise. The tax was repealed by lawmakers in 2018. The franchise tax will be eliminated for the first $100,000 of taxable capital starting in 2018. The tax cut in 2019 reduces the rate by 25cs each year, until the franchise tax is completely repealed on January 1, 2028. The 3-percent bracket was also eliminated by the legislature, effective immediately in the calendar year 2018. Individual taxpayers will save $150 each year by getting rid of the 3-percent bracket. Pennsylvania’s franchise tax was eliminated in 2014. This resulted in a jump of the state’s Tax Foundation ranking, from 28th to 24th. Lt. Gov. Tate Reeves, the advocate for tax cuts, stated that he was encouraged by the report. He stated that taxes are simply an expense of doing business, which is incorporated into the end product or service. A fairer and more transparent tax policy will make Mississippi businesses more competitive in the global marketplace by removing or reducing this additional cost. “Eventually, I want Mississippi to move into the top fifteen of the foundation’s reports and this confirms that our recent action will help us move in that direction.” To support this work and continue important work such as this one, you can make a recurring gift today to celebrate our Spring Member Drive.