Insurance premium tax key factor in boosting month one FY18 state revenue

Insurance premium tax boosts state revenue

JACKSON – The 3 percent tax on all insurance premiums sold within Mississippi was a key factor in making July a good month for state revenue collections.

For the month of July, the first of the new fiscal year, revenue on the insurance premium tax was $14.3 million or 54 percent above the amount collected in July 2016.

And the $40.7 million total collected in the insurance premium tax was 70.8 percent above the official estimate.

Daily Journal
8/6/17