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No sales tax on Mississippi lottery tickets, but winnings will still be taxed

No sales tax on Mississippi lottery tickets, but winnings will still be taxed

The Mississippi Legislature is predicted to cross a measure clarifying that tickets for state’s quickly to be rolling lottery are exempt from sales taxes.

But the state tax guy will still get his minimize on lottery winnings in Mississippi: They will be taxed as source of revenue, on the identical scaled price of three % to five % as some other source of revenue.

This is a blow to Jackson, the place Mayor Chokwe Antar Lumumba have been counting on lottery price tag earnings from a 1-cent sales tax within the town tacked on to the 7-cent state sales tax. Lumumba overdue ultimate yr had estimated the town would obtain about $four million a yr from it is proportion of state sales taxes plus the 1-cent sales tax on tickets past cash the town expects to obtain from state lottery proceeds earmarked for native infrastructure by means of the Legislature.

House Bill 1576, pending within the Legislature and anticipated to cross, makes transparent lottery tickets are exempt from sales taxes in Mississippi — as they’re in all different states within the U.S. that experience a lottery.

But state Revenue Commissioner Herb Frierson mentioned lottery tickets would not be matter to sales taxes below present rules and rules.

“I don’t think you need a bill,” Frierson mentioned. “It’s considered a service, not tangible personal property. It’s evidence of a bet is all it is. Why would you tax evidence of a bet?”

Frierson mentioned a lottery price tag is itself a type of tax — “a tax on stupidity.” [Editor: I guess Herb is not on board with a lottery yet.]

City of Jackson lobbyist Quincy Mukoro mentioned he still hopes for a metamorphosis within the invoice to funnel further cash to Jackson.

“Our understanding when we passed the bill last year was that the sales tax component of the bill was critical to get the bill passed,” Mukoro mentioned.

While no states price sales taxes on lottery tickets, there are all kinds of tax charges on winnings. Ten states, together with neighbor Tennessee, price no state tax on lottery winnings. New York has the very best price at just about nine %. 

Lottery winnings are matter to a 25 % federal tax withholding.

After many years of dialogue, lawmakers in a summer time particular consultation ultimate yr authorized a state lottery, which is predicted to be up and working in 2019, as early as this summer time. It’s anticipated to web the state about $40 million the primary yr, then $80 million to $100 million a yr thereafter.

For the following decade, as much as $80 million a yr from lottery proceeds will pass towards running on state roads and bridges or to check federal infrastructure cash. Any earnings above $80 million would pass to public training, the Education Enhancement Fund.

Updated: February 28, 2019 — 9:53 pm

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