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Excavation Contractor Package - Mississippi

Excavation Contractor Package - Mississippi 2025

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The document is a Specialty Forms Package for excavation contractors in Mississippi, provided by U.S. Legal Forms, Inc. It includes essential forms to address legal issues that may arise during excavation projects, such as contracts, change orders, safety plans, and completion certificates. The package also offers tips for completing the forms and includes a disclaimer regarding the use of the materials.

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What is the contractors tax in Mississippi?

The 3.5% contractors tax is imposed against the prime contractor and is due on all non-residential, commercial contracts regardless of whether or not the owner is a governmental, exempt, or non-profit entity.

What is the new contractor law in Mississippi?

Effective July 1, 2024, the Mississippi Legislative enacted multiple statutory changes applicable to the construction industry, including (1) an increase to the monetary threshold requiring public bidding, (2) new delivery methods available for Mississippi Department of Transportation (MDOT) projects, and (3) perhaps

What is an excavation contractor?

Excavating contractors remove large amounts of rock and soil to prepare a jobsite for construction. They may use a combination of tools, heavy machinery, and explosives to create space to safely build structures and mechanical systems.

What is the FUTA tax rate in Mississippi?

Employer Payroll Contributions FUTA (Federal Unemployment Tax Act) The FUTA tax rate is 6.0% with a taxable wage base of 7,000 USD. However, if states operate their unemployment insurance programs in compliance with federal law then the FUTA tax is reduced (credit) by 5.4% to 0.6%.

Are contractors taxed at a higher rate?

In most cases, self-employed contractors will pay a slightly higher tax rate than employees on paper but overall they typically pay a lower amount of taxes due to business tax breaks and expense deductions.

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