Mississippi Further Extends Tax Filing Deadline

After further consideration, the Mississippi Department of Revenue (MDOR) has decided that it will extend the filing deadline for tax returns and estimated payments from May 15, 2020 to July 15, 2020. The extension will apply to individual income tax returns, corporate income and franchise tax returns and fiduciary income tax returns. The new deadline (July 15) now falls on the same date as the extended federal filing deadline.

Mississippi Legislature Set to Reconvene Earlier than Expected

In a joint press release on Tuesday, May 5, Lt. Governor Hosemann and Speaker Gunn announced that the Mississippi Legislature would reconvene the 2020 legislative session on Thursday, May 7 at 1:00 p.m. After gaveling in last Friday and passing a bill that removes the authority of the Governor to dispense of the federal CARES Act funds, the legislature adjourned and was expected to reconvene on May 18, as previously announced. However, Legislative leadership says that they are working on a plan to assist struggling small businesses and will need legislative action to put said plan in place.  

With so much uncertainty, the political and policy landscape in Mississippi is changing daily. The MMA staff will be following these developments closely and working with legislative leadership to make sure that any actions taken are beneficial and directly impactful to our members and the business community as a whole.
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