Grocery tax drop, gas tax increase among state law changes

Grocery tax drop, gas tax increase among state law changes

JACKSON – On July 1, more than a dozen new pieces of legislation will take effect in the Magnolia state

Grocery tax to drop to 2% in September, but economy has final say

The state sales tax on most groceries will be 2% starting Sept. 1, halved since 2023 when lawmakers first took the tax rate from 4% to 3%. That initial tax cut legislation tied a future decrease of one percentage point to expected 3.5% growth in the state’s Education Trust Fund. But that didn’t happen for 2024 and wasn’t expected this year, so lawmakers moved to push forward the one percentage point reduction in the biggest tax-cut bill of the 2…