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Mississippi Updates Tax Rules for Oil, Gas, and Mineral Resource Service Businesses Effective July 2024

  • Effective July 1, 2024, the 3.5% Mississippi contractor’s tax is no longer applicable to drilling, redrilling, completing, or working over an oil or gas well.
  • Changes have been made to the sales tax on services provided in an oil or gas field.

Source: vitallaw.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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