Proposed rule for sales tax on cloud computing services withdrawn in MS
If you’re paying for cloud computing services in the Magnolia State, there’s good news: The Dept. of Revenue has just withdrawn a proposed rule to make various cloud computing services subject to sales tax.
As written, the proposed rule would’ve imposed the state sales tax on any Software as a Service (SaaS) solution, as well as any platform as a service or infrastructure as a service solutions delivered via the cloud.
Although there are no immediate plans to tax cloud-based solutions in Mississippi, be aware: The governor signed SB 2831 in March 2022. This bill created the Taxation of Remote and Internet-based Computer Software Products and Services Study Committee. The committee’s purpose is to review current sales and use tax laws to create recommendations for taxing internet-based computer software – including cloud computing applications.
- Share on
Free Training & Resources
Webinars
Provided by Yooz
Further Reading
No matter where entrepreneurs decide to start a business, they face a variety of taxes and regulations that cut into the bottom line from t...
The Internal Revenue Service has extended corporate, business and individual tax deadlines out to June 17 for San Diego, Detroit and dozens...
The metropolitan areas where employers and employees want to settle are in flux this decade. COVID-19 accelerated the flexible on-site ...
The U.S. Supreme Court (SCOTUS) handed down enough precedent-breaking decisions this spring to make anyone’s head spin. The upshot: B...
The outcome of the presidential race and which party will control the House and Senate is too close to call. But a handful of economic idea...
Many businesses are hesitant to spend big bucks on capital improvements or new equipment due to inflation, high interest rates and economic...
