This past weekend, the legislature came to terms on the state’s largest-ever tax cut, which is now on its way to the desk of Governor Tate Reeves.
In order to give Mississippians an idea of what they will save under the plan, I whipped up a quick sample analysis of the taxpayer savings under the Mississippi Tax Freedom Act of 2022.
Individual making $40,000
| Year | Tax | Savings |
| 2022 | $1,285 | |
| 2023 | $1,085 | $200 |
| 2024 | $1,020 | $265 |
| 2025 | $955 | $330 |
| 2026+ | $868 | $417 |
Married filing joint/combined earning $80,000
| Year | Tax | Savings |
| 2022 | $2,570 | |
| 2023 | $2,170 | $400 |
| 2024 | $2,040 | $530 |
| 2025 | $1,909 | $661 |
| 2026+ | $1,736 | $834 |
The post How much can you save under Mississippi’s tax cut plan? appeared first on SuperTalk Mississippi.