Mississippi Exemption Application For Homestead

Category:
State:
Mississippi
Control #:
MS-60019
Format:
Word; 
Rich Text
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Description

The Mississippi exemption application for homestead is a formal request for exemption from ad valorem taxes for certain manufactured products held for sale, as permitted by Section 27-31-7 of the Mississippi Code of 1972. This application is designed for businesses, particularly distributors and wholesale merchants, seeking to reduce tax liabilities on specific products located within Mississippi. Key features of the form include the need to identify the applicant, typically a corporation, and the requirement to provide details about the nature of the business and employment. The exemption, if granted, lasts for ten years and excludes school district taxes. Filling out the form involves clearly stating the applicant's qualifications and intentions, while it must be signed by both the president and secretary of the corporation, with notarization required. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it helps them navigate tax benefits for clients and can be essential in financial planning for businesses. Understanding the rules and processes outlined in this document ensures compliance and optimal tax strategy for clients seeking exemption.
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  • Preview Application for Exemption from Ad Valorem Taxes for Certain Manufactured Products Held for Sale or Shipment to Other than Final Consumer for a Period of 10 Years
  • Preview Application for Exemption from Ad Valorem Taxes for Certain Manufactured Products Held for Sale or Shipment to Other than Final Consumer for a Period of 10 Years
  • Preview Application for Exemption from Ad Valorem Taxes for Certain Manufactured Products Held for Sale or Shipment to Other than Final Consumer for a Period of 10 Years

How to fill out Mississippi Application For Exemption From Ad Valorem Taxes For Certain Manufactured Products Held For Sale Or Shipment To Other Than Final Consumer For A Period Of 10 Years?

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FAQ

Application Requirements A copy of your recorded Warranty Deed. Your Mississippi car and/or truck tag numbers. Social Security Numbers for You and Your Spouse if You Are Married. Birth dates for you and your spouse or all parties applying for homestead. Your closing or settlement statement.

Application Requirements A copy of your recorded Warranty Deed. Your Mississippi car and/or truck tag numbers. Social Security Numbers for You and Your Spouse if You Are Married. Birth dates for you and your spouse or all parties applying for homestead. Your closing or settlement statement.

Homeowners may also be eligible for the Mississippi homestead exemption. This exempts the first $7,500 in assessed value from taxation, up to a maximum of $300 off your tax bill. Seniors who are 65 or older receive a full exemption on the first $7,500 of their property's assessed value.

Persons who are 65 years of age and older or who are disabled, upon application and proof of eligibility, are exempt from all ad valorem taxes up to $7,500.00 of assessed value.

The applicant must come in person to the Tax Assessor's office the first time to file for homestead exemption benefits. Each year after that the homestead exemption benefits are automatically renewed unless there is a change in the filing status.

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Mississippi Exemption Application For Homestead