Individual Income Tax Forms
Form 80-100 Mississippi Resident and Non-Resident Part-Year Resident Income Tax Forms
Corporate Income Tax Forms
Form 83-105 Mississippi Corporate Income and Franchise Tax Return
Sales Tax Forms
Form 72-315 Certificate of Interstate Sales
Form 72-340 Certificate of Prime Contract Amount
Form 72-405 Contractors Application for Material Purchase and Qualification
Form 72-440 Sales Use Income Franchise Withholding Fuel Tax Bond
Mississippi Tax Forms: A Comprehensive Guide
Filing taxes can be a daunting task, but it is a necessary one. Every year, millions of Americans must file their taxes with the Internal Revenue Service (IRS) and their respective state governments. In Mississippi, taxpayers have to file their taxes using the Mississippi Tax Forms. These forms are designed to provide taxpayers with a convenient and easy way to report their income and pay their state taxes. In this guide, we will explore every aspect of Mississippi Tax Forms, including their purpose, types, and how to fill them out.
What are Mississippi Tax Forms?
Mississippi Tax Forms are the official documents that residents and businesses in Mississippi use to report their income, claim deductions or credits, and pay their state taxes. Mississippi Tax Forms can be divided into two categories: individual tax forms and business tax forms. Individual tax forms are for residents of Mississippi to report their personal income, while business tax forms are for businesses operating in Mississippi to report their income and pay their taxes.
Types of Mississippi Tax Forms
Individual tax forms
Mississippi residents who earn an income must file their taxes using one of the following forms:
1. Form 80-105 – This is the basic form for individual income tax returns. The form is designed for Mississippi residents who earn an income to report their income, claim deductions or credits, and calculate their state taxes.
2. Form 80-205 – This is the long form for individual income tax returns. The form is designed for Mississippi residents who earn an income to report their income, claim deductions or credits, and calculate their state taxes. The only difference between this form and Form 80-105 is that the latter is a shorter version.
3. Form 80-107 – This is the nonresident or part-year resident income tax return form. People who are not residents of Mississippi but have earned income in the state have to file their taxes using this form. Also, residents who have moved to or left Mississippi during the tax year can use this form.
4. Form 80-205-NR – This is the nonresident long form for individual income tax returns. This form is designed for nonresidents of Mississippi who have earned income in the state to report their income, claim deductions or credits, and calculate their state taxes.
Business tax forms
Businesses operating in Mississippi must file their taxes using one of the following forms:
1. Form 82-105 – This is the business income tax return form. This form is designed for regular corporations that operate in Mississippi to report their income, calculate their state taxes, and pay any taxes they owe.
2. Form 83-105 – This is the franchise tax return form. This form is designed for corporations that are authorized to do business in Mississippi to report their net worth and pay their annual franchise tax.
3. Form 84-105 – This is the composite tax return form. This form is designed for pass-through entities such as partnerships and limited liability companies (LLCs) to report their income, calculate their state taxes, and pay any taxes they owe.
How to Fill Out Mississippi Tax Forms
Filling out Mississippi Tax Forms can be a little complicated, especially if you’re doing it for the first time. Here’s a step-by-step guide on how to fill out the most common Mississippi Tax Forms:
Form 80-105 – Individual income tax return
1. Personal information: Enter your name, Social Security number, address, and filing status.
2. Income: Enter your total income from all sources, including wages, salaries, tips, interest, dividends, and any other income you receive.
3. Adjustments: If you can claim any deductions or credit, such as charitable contributions, retirement contributions, etc., enter them here.
4. Taxable income: Subtract any adjustments from your total income to get your taxable income.
5. Mississippi tax liability: Calculate your Mississippi tax liability based on your taxable income and the tax rates provided in the form.
6. Credits: If you are eligible for any credits, such as child tax credit or earned income credit, enter them here.
7. Withholding: Enter any state or federal tax withholding that has been made from your paycheck.
8. Payments: If you have made any state tax payments, such as estimated tax payments or tax credits, enter them here.
9. Refunds: Calculate your refund or balance due based on the information you have entered.
10. Sign and date the form.
Form 82-105 – Business income tax return
1. Corporate information: Enter the business’s name, address, phone number, and type of business.
2. Income: Enter the gross income earned by the business in Mississippi.
3. Expenses: Enter the expenses incurred by the business in Mississippi.
4. Taxable income: Subtract the expenses from the gross income to get the taxable income.
5. Mississippi tax liability: Calculate the Mississippi tax liability based on the taxable income.
6. Withholding: Enter any state or federal tax withholding that has been made from the business’s employees.
7. Payments: If the business has made any state tax payments, such as estimated tax payments or tax credits, enter them here.
8. Refunds: Calculate any refunds or balances due based on the information you have entered.
9. Sign and date the form.
Resources for Mississippi Tax Forms
Mississippi Department of Revenue (DOR) is the official source of information on Mississippi Tax Forms. You can access all the Mississippi Tax Forms on the DOR website. The website also offers various resources, including instructions on how to fill out the forms and how to make payments.
In addition to DOR, the IRS is another useful resource for Mississippi taxpayers. The IRS provides information on federal requirements and offers assistance and resources for filing taxes. Taxpayers can also file their federal taxes online using the IRS’s website.
Conclusion
Filing taxes is a necessary but often complicated task. Mississippi Tax Forms provide taxpayers with a convenient and easy way to report their income, claim deductions or credits, and pay their state taxes. By understanding the different types of Mississippi Tax Forms and how to fill them out correctly, taxpayers can ensure that they comply with state tax laws and avoid penalties or fines. With the help of the DOR and IRS, Mississippi taxpayers can access the resources they need to file their taxes accurately and efficiently.
