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Mississippi taxes at a glance (2026)

Mississippi has a flat 4.00% income tax with a standard deduction of $2,300 (single) / $4,600 (married). Effectively flat: first $10,000 of taxable income is exempt (0%), with a single 4.0% rate on taxable income above $10,000 for tax year 2026 (down from 4.4% in 2025). The $10,000 exemption applies the same regardless of filing status. Standard deduction: $2,300 single / $4,600 MFJ. Personal exemptions (separate from standard deduction): $6,000 single, $12,000 MFJ, plus $1,500 per dependent. No local/city income taxes in Mississippi. All retirement income is fully exempt: Social Security, public and private pensions, IRA/401(k)/403(b) distributions, annuities, and military retirement pay, with no age or income limit. The rate phase-down was enacted by HB 1 (the Build Up Mississippi Act), signed March 27, 2025 (not the original SB 3095 Senate proposal); it schedules continued cuts (3.75% in 2027, 3.5% in 2028, 3.25% in 2029, ~3% by 2030) with a revenue-trigger mechanism aimed at eventual full elimination.