Many folks are wondering how the past and recent tax cuts in Mississippi will affect them and their family going forward.  In light of the last round of cuts in 2021, along with HB1 (which passed during the 2025 legislative session), great things are on the horizon for Mississippi residents. Enter your data in the three fields below to see exactly how it will affect you personally every year starting in 2024 and going through anticipated full elimination in 2040.  Not included in the formula is the $350 in annual tax savings per household (which is already being realized from the phase out of the 3% and 4% tax brackets the last 8 years).