Mississippi variant. This is a Mississippi-specific version of the Income Tax Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Income Tax Calculator.
Mississippi income tax (Flat 4.7% (down from 5%, decreasing further)) stacks on top of federal tax. Understanding both layers is essential to estimating your total Mississippi tax bill.
Mississippi state income tax structure
Mississippi taxes income at Flat 4.7% (down from 5%, decreasing further), with a top marginal rate of 4.7%. Like the federal system, only income within each bracket is taxed at that bracket's rate.
Federal brackets (10%–37%) apply nationwide. Combine your federal effective rate with the Mississippi rate to find your true marginal tax on the next dollar earned.
About taxes and housing in Mississippi
Mississippi has moved to a flat income tax and exempts the first portion of income from taxation.
Mississippi has the lowest median home prices in the country along with below-average property taxes.
Mississippi has one of the lowest costs of living in the nation, with an economy based on agriculture, manufacturing, and casino tourism along the Gulf Coast.
Worked example: state tax on $52,985
Using the 4.7% top rate as a ceiling, state income tax on $52,985 is at most about $2,490; the actual figure is lower after brackets and deductions.
Quick reference
- State income tax: Flat 4.7% (down from 5%, decreasing further)
- State sales tax: 7% (plus 0.06% avg local)
- Median home value: $175,000
- Median household income: $52,985
- Effective property tax rate: 0.65%
- Avg auto insurance: $1,773/yr
Frequently Asked Questions
Does Mississippi have state income tax?
Yes - Flat 4.7% (down from 5%, decreasing further), topping out at 4.7%.
What is the top tax rate in Mississippi?
The top marginal state rate is 4.7%.