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Mississippi: The Importance of a state CPA for Small Business Tax Preparation

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Why CPAs in Mississippi are better online

If you use a CPA for expert tax advice and to help prepare your taxes, you're probably used to searching your home office for all your receipts and tax records and dragging yourself across town to a brick and mortar CPA's office. If you've kept good records like spreadsheets and other recorded data, your CPA would spend several hours (also if you're lucky) going over everything with you. Then you would emerge into the daylight with a big bill for your CPA's services, and the CPA would file your taxes. You would spend the next couple weeks hoping that you would get a refund that would be at least enough to cover the CPA's bill. But times have changed, and it doesn't have to be that way anymore. Thanks to digital technology and just about everything being done online, you can find tax services in Mississippi online and have an even better experience with an expert who is well-versed in Mississippi CPA services. This is probably no surprise, since we can now order just about anything on the internet, talk to our loved ones 1,000 miles away, and start a small business online with almost no start-up cash. But it may not yet be common knowledge that you don't have to keep records manually using spreadsheets or keep your receipts for every single business purchase. In fact, there's an app that uses a powerful A.I. to track your expenses and catch every possible tax write-off. When tax time comes, all of your information is stored in the app, so there's no need to keep records manually. FlyFin's CPA team has your back with unlimited tax advice in the app, instead of costly consultations with CPA firms in Mississippi. Their 100+ combined years of tax knowledge on the system in Mississippi is combined with CPA services in Mississippi that pertain to the needs of self-employed individuals of all types, plus knowledge about LLCs, S-Corporations, sole proprietorships and other business structures.

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Facts and figures about
taxes in Mississippi

5,814

CPAs across the state

mississippi
population

2,961,279

Residents as of 2022

population

160,350

People claiming self- employment tax deductions

population

52,610

S-Corps statewide

population

81,670

People taking itemized deductions

population

130,520

People claiming the QBI deduction

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How to set up an LLC in Mississippi

Mississippi State Income Tax Rates & Brackets for 2023

The following tables represents Mississippi's income tax rates and tax brackets:

SINGLE FILER

Brackets

Rates

$5,000 - $10,000

4.00%

$10,000+

5.00%

MARRIED FILING JOINTLY

Brackets

Rates

$5,000 - $10,000

4.00%

$10,000+

5.00%

Filing Status

Standard Deduction Amt.

Single

$2,300

Couple

$3,450

Mississippi State Sales Tax Rates for 2023

County

Tax Rate

Adams County

7%

Alcorn County

7%

Amite County

7%

Attala County

7%

Benton County

7%

Bolivar County

7%

Calhoun County

7%

Carroll County

7%

Chickasaw County

7%

Choctaw County

7%

Claiborne County

7%

Clarke County

7%

Clay County

7%

Coahoma County

7%

Copiah County

7%

Covington County

7%

Desoto County

7%

Forrest County

7%

Franklin County

7%

George County

7%

Greene County

7%

Grenada County

7%

Hancock County

7%

Harrison County

7%

Hinds County

8%

Holmes County

7%

Humphreys County

7%

Issaquena County

7%

Itawamba County

7%

Jackson County

7%

Jasper County

7%

Jefferson County

7%

Jefferson Davis County

7%

Jones County

7%

Kemper County

7%

Lafayette County

7%

Lamar County

7%

Lauderdale County

7%

Lawrence County

7%

Leake County

7%

Lee County

7.25%

Leflore County

7%

Lincoln County

7%

Lowndes County

7%

Madison County

8%

Marion County

7%

Marshall County

7%

Monroe County

7%

Montgomery County

7%

Neshoba County

7%

Newton County

7%

Noxubee County

7%

Oktibbeha County

7%

Panola County

7%

Pearl River County

7%

Perry County

7%

Pike County

7%

Pontotoc County

7%

Prentiss County

7%

Quitman County

7%

Rankin County

8%

Scott County

7%

Sharkey County

7%

Simpson County

7%

Smith County

7%

Stone County

7%

Sunflower County

7%

Tallahatchie County

7%

Tate County

7%

Tippah County

7%

Tishomingo County

7%

Tunica County

7%

Union County

7%

Walthall County

7%

Warren County

7%

Washington County

7%

Wayne County

7%

Webster County

7%

Wilkinson County

7%

Winston County

7%

Yalobusha County

7%

Yazoo County

7%

Mississippi State IRS Statistics of Income for 2020

Size of adjusted gross income

Item
(All amounts are in 1000s of dollars)

Number of returns

Number of single returns

Number of joint returns

Number of head of household returns

Number of individuals

Adjusted gross income (AGI)

Total income: Number

Amount

Salaries and wages in AGI: Number

Amount

Business or profession net income (less loss): Number

Amount

Partnership/S-corp net income (less loss): Number

Amount

Self-employed health insurance deduction: Number

Amount

Student loan interest deduction: Number

Amount

Charitable contributions if took standard deduction: Number

Amount

Total itemized deductions: Number

Amount

State and local income taxes: Number

Amount

State and local general sales taxes: Number

Amount

Qualified business income deduction: Number

Amount

Child and dependent care credit: Number

Amount

Child and other dependent tax credit: Number

Amount

Self-employment tax: Number

Amount

Earned income credit: Number

Amount

Refundable education credit: Number

Amount

Recovery rebate credit: Number

Amount

Total tax liability: Number

Amount

Total additional Medicare tax: Number

Amount

Net investment income tax: Number

Amount

Tax due at time of filing: Number

Amount

Total overpayments: Number

Amount

All returns

1,328,290

620,160

395,490

283,060

2,516,670

67,733,850

1,284,940

68,562,805

1,057,500

47,805,933

241,460

1,711,123

52,610

3,544,602

24,750

183,130

56,580

42,663

328,900

90,225

81,670

2,842,643

58,190

507,459

18,050

42,333

130,520

866,706

49,970

29,262

363,870

639,029

160,350

435,017

353,980

949,022

69,870

62,872

269,780

397,734

846,790

7,108,940

14,590

23,733

17,980

69,193

216,240

1,019,391

1,071,810

3,668,262

Under $1

59,030

45,870

8,700

3,010

76,440

0

15,730

0

4,430

162,050

8,850

0

3,040

0

1,010

6,061

460

447

7,070

1,897

0

0

0

0

0

0

0

0

10

1

40

21

2,080

5,157

3,180

5,956

1,030

946

36,840

56,250

2,800

6,357

100

190

0

0

1,440

2,815

45,100

99,870

$1 under $10,000

180,950

142,930

14,080

21,110

209,020

906,439

180,900

935,450

126,930

696,695

31,270

65,474

1,770

0

1,440

5,353

1,300

1,075

20,690

5,204

1,130

22,142

320

852

520

476

380

127

0

0

200

85

23,560

16,699

68,480

98,836

8,260

7,231

57,440

90,533

28,970

18,310

0

0

0

0

11,390

5,536

150,730

261,193

$10,000 under $25,000

328,190

183,340

33,360

105,830

569,560

5,715,339

328,190

5,805,706

264,920

4,193,165

68,880

324,684

3,090

0

2,570

10,474

5,250

4,310

51,320

13,735

3,760

79,747

1,340

2,066

1,820

2,261

18,900

12,181

4,000

1,301

54,030

19,485

49,820

78,259

160,110

555,117

21,820

20,054

73,240

113,334

169,100

151,151

30

36

0

0

22,910

21,776

298,520

1,051,264

$25,000 under $50,000

343,950

153,610

68,360

111,460

661,840

12,253,162

343,950

12,378,882

304,120

10,025,783

51,150

134,774

5,380

20,014

3,660

18,654

16,450

12,224

82,930

22,643

12,520

295,030

7,230

12,835

4,130

7,950

28,920

43,201

17,040

10,704

138,850

166,603

27,930

63,010

119,090

287,363

18,670

17,139

47,010

64,929

245,340

519,377

50

94

0

0

47,240

62,241

295,250

972,651

$50,000 under $75,000

159,500

57,500

69,020

27,630

332,840

9,778,432

159,500

9,873,600

136,060

7,452,070

25,850

155,734

5,730

42,753

3,010

18,094

12,040

9,145

54,150

14,975

13,800

359,388

8,950

23,679

3,820

8,896

19,680

48,079

8,510

4,877

60,670

138,179

16,090

45,605

3,120

1,750

7,230

6,499

20,680

26,548

146,490

661,376

40

53

0

0

38,440

78,746

120,770

349,870

$75,000 under $100,000

94,830

19,700

64,790

8,400

229,680

8,209,714

94,830

8,286,085

80,910

6,029,628

17,690

159,381

5,500

60,725

2,460

16,251

8,510

5,917

39,470

11,074

10,670

305,398

7,330

27,409

2,590

6,182

15,890

49,189

6,920

4,149

39,330

109,664

11,930

39,061

0

0

4,800

4,069

13,570

15,691

92,780

666,066

60

32

0

0

27,210

75,557

67,470

227,470

$100,000 under $200,000

127,900

14,280

107,140

4,990

342,420

17,091,133

127,900

17,264,620

110,950

12,288,393

27,180

407,685

14,330

379,081

5,300

43,577

12,570

9,545

60,970

17,216

23,470

776,984

18,390

110,904

3,820

11,201

29,890

163,379

11,300

6,921

58,550

169,168

19,080

87,299

0

0

8,060

6,934

20,720

30,319

127,420

1,890,918

890

303

360

121

49,540

224,695

78,190

342,302

$200,000 under $500,000

28,200

2,410

25,010

520

78,680

7,916,325

28,200

8,056,169

24,350

4,784,016

8,420

408,709

9,610

891,932

3,690

41,716

0

0

10,970

3,104

12,360

534,507

10,970

143,685

1,100

4,498

13,160

208,360

1,950

1,164

12,150

35,754

7,470

65,842

0

0

0

0

280

130

28,160

1,342,939

9,850

7,531

12,640

13,312

15,040

217,851

13,090

148,402

$500,000 under $1,000,000

4,080

350

3,600

70

11,750

2,729,806

4,080

2,783,345

3,450

1,275,040

1,520

152,612

2,760

711,620

1,080

15,346

0

0

1,050

300

2,660

196,911

2,460

72,475

180

646

2,460

80,872

180

112

50

70

1,640

20,176

0

0

0

0

0

0

4,080

643,086

2,580

7,796

3,500

14,902

2,210

117,533

1,860

67,046

$1,000,000 or more

1,660

170

1,440

30

4,440

4,533,377

1,660

4,560,550

1,370

899,093

660

100,584

1,390

1,805,013

550

7,604

0

0

270

77

1,290

272,536

1,210

113,554

80

223

1,260

261,318

50

33

0

0

730

13,909

0

0

0

0

0

0

1,660

1,209,360

990

7,698

1,490

40,858

810

212,641

840

148,194

Frequently Asked Questions

How does Mississippi tax filing work online?

Exactly what is a Mississippi CPA?

What does an online Mississippi Certified Public Accountant do?

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