Tax Year 2023 Mississippi Income Tax Brackets
Tax Bracket | Tax Rate |
---|---|
$10,000.00+ | 4.7% |
Tax Bracket | Tax Rate |
---|---|
$10,000.00+ | 4.7% |
Mississippi's income tax rates were last changed one year ago for tax year 2023, and the tax brackets were previously changed in 2022.
Mississippi has a flat income tax rate which applies to both single and joint filers. The Federal Income Tax, in contrast to the Mississippi income tax, has multiple tax brackets with varied bracket width for single or joint filers.
How do Mississippi tax brackets work?
Technically, you don't have just one "tax bracket" - you pay all of the Mississippi marginal tax rates from the lowest tax bracket to the tax bracket in which you earned your last dollar. For comparison purposes, however, your Mississippi tax bracket is the tax bracket in which your last earned dollar in any given tax period falls.
You can think of the bracketed income tax as a flat amount for all of the money you earned up to your highest tax bracket, plus a marginal percentage of any amount you earned over that. The chart below breaks down the Mississippi tax brackets using this model:
For earnings over $10,000.00, you'll pay 4.7% plus $0.00 |
For earnings over $10,000.00, you'll pay 4.7% plus $0.00 |
Mississippi Income Tax Calculator
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You can use the income tax estimator to the left to calculate your approximate Mississippi and Federal income tax based on the most recent tax brackets.
Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.
For a more detailed estimate that takes these factors into account, click "View Detailed Estimate" (this will will redirect to an external website).
Mississippi Tax Deductions
When calculating your Mississippi income tax, keep in mind that the Mississippi state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions.
Qualifying deductions might include an itemized deduction, the Mississippi standard deduction, exemptions for dependants, business expenses, etc.
Remember that Mississippi may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your Mississippi income tax return.
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MS income tax forms are available as PDFsMississippi Standard Deductions & Personal Exemption Amounts
In addition to marginal tax brackets, one of the major features of the Mississippi income tax is deductions. The three most common deductions encountered by taxpayers are the Mississippi Standard Deduction, the Mississippi Personal Exemption, and the Mississippi Dependent Deduction. The current values of these deductions for tax year 2024 are as follows:
Standard Deduction (Single) | Standard Deduction (MFJ) | Personal Exemption | Dependant Exemption |
---|---|---|---|
$2,300.00 | $4,600.00 | $6,000.00 | $1,500.00 |
The standard deduction, which Mississippi has, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction. Essentially, it translates to $2,300.00 per year of tax-free income for single Mississippi taxpayers, and $4,600.00 for those filing jointly.
The Personal Exemption, which is supported by the Mississippi income tax, is an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses. Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support.
The Federal income tax also has a standard deduction, personal exemptions, and dependant deductions, though they are different amounts than Mississippi's and may have different rules.
Head over to the Federal income tax brackets page to learn about the Federal Income Tax, which applies in all states nationwide.
Sources & Citations
Disclaimer: While we do our best to keep this list of Mississippi income tax rates up to date and complete, we cannot be held liable for errors or omissions. Is info on this page missing or out-of-date? Please let us know so we can fix it!
The Mississippi tax brackets on this page have been updated for tax year 2024, and are the latest brackets available. States often adjust their tax brackets on a yearly basis, so make sure to check back later for Mississippi's updated tax year 2025 tax brackets!
Tax Data Sources:
- The Mississippi tax brackets on this page were last updated from the Mississippi Department of Revenue in 2024. Please contact us if any of our Mississippi tax data is incorrect or out of date.
- Mississippi tax return forms are available on the Mississippi tax forms page or the Mississippi Department of Revenue.
- Before the official 2024 Mississippi income tax brackets are released, the brackets used on this page are an estimate based on the previous year's brackets. These numbers are subject to change if new Mississippi tax tables are released.
- The Mississippi income tax estimator tool is provided by Tax-Rates.org .