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Mississippi Code Title 27. Taxation and Finance § 27-9-5

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

<Text of section effective for decedents dying after March 22, 1956, and before October 1, 1988. See, also, texts of section effective for decedents dying on or after October 1, 1988.>

A tax equal to the sum of the following percentages of the value of the net estate is hereby imposed upon the transfer of the net estate of every decedent dying after March 22, 1956, and before October 1, 1988, whether a resident or a nonresident of the State of Mississippi:

MISSISSIPPI ESTATE TAX SCHEDULE

Over

But not over

Of excess over

$ -0-  

$ 60,000

1%

000,60,000

100,000

$ 600 plus 1.6%

60,000

00,100,000

200,000

1,240 plus 2.4%

100,000

00,200,000

400,000

3,640 plus 3.2%

200,000

00,400,000

600,000

10,040 plus 4.0%

400,000

00,600,000

800,000

18,040 plus 4.8%

600,000

00,800,000

1,000,000

27,640 plus 5.6%

800,000

01,000,000

1,500,000

38,840 plus 6.4%

1,000,000

01,500,000

2,000,000

70,840 plus 7.2%

1,500,000

02,000,000

2,500,000

106,840 plus 8.0%

2,000,000

02,500,000

3,000,000

146,840 plus 8.8%

2,500,000

03,000,000

3,500,000

190,840 plus 9.6%

3,000,000

03,500,000

4,000,000

238,840 plus 10.4%

3,500,000

04,000,000

5,000,000

290,840 plus 11.2%

4,000,000

05,000,000

6,000,000

402,840 plus 12.0%

5,000,000

06,000,000

7,000,000

522,840 plus 12.8%

6,000,000

07,000,000

8,000,000

650,840 plus 13.6%

7,000,000

08,000,000

9,000,000

786,840 plus 14.4%

8,000,000

09,000,000

10,000,000

930,840 plus 15.2%

9,000,000

10,000,000 and over

1,082,840 plus 16.0%

10,000,000

Provided, however, that the tax due under this section shall not be less than the state death tax credit allowable under Title 26, Section 2011, USCA.

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Cite this article: FindLaw.com - Mississippi Code Title 27. Taxation and Finance § 27-9-5 - last updated January 01, 2025 | https://codes.findlaw.com/ms/title-27-taxation-and-finance/ms-code-sect-27-9-5/

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