Mississippi Recommended Spending Percentages
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Mississippi's major sources of revenue are sales taxes, followed by personal and corporate income taxes, gasoline taxes, and gaming income. Local governments derive their greatest income from property taxes. Considerable amounts of federal monies are provided through numerous federal and state agencies.
The general fund revenue is derived primarily from taxes on income and retail items.
Mississippi's largest spending areas per capita were public welfare ($2,123) and elementary and secondary education ($1,577). The Census Bureau includes most Medicaid spending in public welfare but also allocates some of it to public hospitals.
What do state and local governments spend money on? State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).
Mississippi's major sources of revenue are sales taxes, followed by personal and corporate income taxes, gasoline taxes, and gaming income. Local governments derive their greatest income from property taxes. Considerable amounts of federal monies are provided through numerous federal and state agencies.
Agriculture is Mississippi's number one industry, employing approximately 17.4% of the state's workforce either directly or indirectly. Agriculture in Mississippi is a 8.83 billion-dollar industry. There are approximately 34,700 farms in the state covering 10.4 million acres.
Revenues come mainly from tax collections, licensing fees, federal aid, and returns on investments. Expenditures generally include spending on government salaries, infrastructure, education, public pensions, public assistance, corrections, Medicaid, and transportation.
