"Boyd Mason Act"; create.
The Act specifically amends Section 27-65-75 of the Mississippi Code of 1972. It allows for exemptions on tangible personal property and services, provided that annual taxable sales do not exceed $25,000 for the veterans and $1,000 for unremarried surviving spouses. This change is anticipated to have a positive effect on disabled veterans and their families, promoting economic stability and support within this demographic. Such measures represent Mississippi's commitment to support those who have served in the military and have returned to civilian life with significant challenges.
House Bill 798, also known as the 'Boyd Mason Act', aims to provide sales tax exemptions for certain purchases made by individuals who are residents of Mississippi and are honorably discharged veterans with a 100% service-connected disability. This legislation targets active members of the Armed Forces of the United States and the Mississippi National Guard who meet the disability criteria established by the United States Department of Veterans Affairs. The intent of this Act is to alleviate the financial burden on these veterans and their surviving spouses, allowing them to make specified purchases without the additional cost of sales tax.
Notably, the bill stipulates that individuals wishing to exercise this exemption must present proof of eligibility, specifically an exemption card issued by the department. This requirement could raise administrative questions about the process of issuing such cards. Additionally, while the bill garners support within the veteran community, there may be ongoing discussions about its potential implications for the state’s overall tax revenue, especially in light of new exemptions that could result in decreased sales tax income during the fiscal year.