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Mississippi Code Title 27. Taxation and Finance § 27-3-85

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) As used in this section, the following words and phrases shall have the meanings ascribed in this section unless the context clearly indicates otherwise:

(a) “COVID-19” means the Coronavirus Disease 2019.

(b) “Department” means the Mississippi Department of Revenue.

(c) “Eligible taxpayer” means a resident taxpayer, or a taxpayer with a permanent place of business located in the state, that:

(i) Was registered with the department before March 1, 2020, had an Employer Identification Number or Social Security Number before March 1, 2020, and/or had an active department withholding account established before March 1, 2020, which withholding account was not for the purposes of paying household employees or as a home healthcare recipient;

(ii) Had a North American Industry Classification System Code of 311811, 4421, 4422, 4481, 4482, 4483, 4511, 4512, 4531, 4532, 4533, 4539, 487210, 488990, 5121, 5322, 541920, 541921, 561499, 561510, 561920, 6116, 6244, 7111, 7112, 7113, 711410, 7131, 7139, 7223, 7224, 7225 or 8121, before March 1, 2020, and was engaged as an active business in such activity before March 1, 2020;

(iii) Was subject to any COVID-19-related state, municipal and/or county required business closure or voluntary closure;

(iv) Filed Mississippi taxes for tax year 2018 or 2019, or, for an eligible business formed on or after January 1, 2020, intends to file Mississippi taxes for tax year 2020, unless exempt under Section 27-7-29, Section 27-13-63 or other applicable provision of law;

(v) Had no more than fifty (50) full-time equivalent employees as of March 1, 2020; and

(vi) Is not a subsidiary of a business with more than fifty (50) full-time equivalent employees, is not part of a larger business enterprise with more than fifty (50) full-time equivalent employees and is not owned by a business with more than fifty (50) full-time equivalent employees.

(2)(a) There is hereby created in the State Treasury a special fund to be designated as the “Mississippi COVID-19 Relief Payment Fund,” which shall consist of funds made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used for the purpose of providing payments to eligible taxpayers as provided in this section. Monies in the fund shall be administered and disbursed by the Department of Finance and Administration in compliance with the guidelines, guidance, rules, regulations and/or other criteria, as may be amended from time to time, of the United States Department of the Treasury regarding the use of monies from the Coronavirus Relief Fund established by the Coronavirus Aid, Relief, and Economic Security Act.

(b) The department shall establish a program to provide a payment of Two Thousand Dollars ($2,000.00) to each eligible taxpayer. The department may coordinate with various professional licensing boards and other regulatory entities and agencies for the purpose of identifying eligible taxpayers as defined herein and compile a report of eligible taxpayers. The department shall certify the report to the Department of Finance and Administration, which shall disburse the payments authorized under this section to eligible taxpayers.

(c) To effectuate the purposes of this section, any office, division, board, bureau, committee, institution or agency of the state, or any political subdivision thereof, shall, at the request of the department, provide the employees, facilities, assistance, information and data needed to enable the department to carry out its duties.

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Cite this article: FindLaw.com - Mississippi Code Title 27. Taxation and Finance § 27-3-85 - last updated January 01, 2025 | https://codes.findlaw.com/ms/title-27-taxation-and-finance/ms-code-sect-27-3-85/

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