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FREE PORT WAREHOUSE REPORT OF INVENTORY MOVEMENT ... - dor ms 2025

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The document is a report template for inventory movement in a free port warehouse, covering the period from January 1 to December 31 of a specified year. It includes sections for total shipments, shipments within Mississippi, tax-related calculations, and certification of accuracy. The report must be submitted to the Tax Assessor by March 31 each year, in compliance with Mississippi Code.

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How much does homestead exemption save you in Mississippi?

Homeowners may also be eligible for the Mississippi homestead exemption. This exempts the first $7,500 in assessed value from taxation, up to a maximum of $300 off your tax bill.

What is the Freeport exemption in Mississippi?

Mississippi Freeport Exemptions: Freeport exemption requests must be reported in Mississippi by March 31st to be considered by the local taxing authority. Mississippi allows exemption on all business personal property shipped out of state that is being held in a warehouse that is deemed eligable via freeport license.

How do you track inventory movement?

There are two main ways businesses can track inventory: manually, using spreadsheets and logbooks; or automated, using inventory software systems.

Who qualifies for property tax exemption in Mississippi?

Persons who are 65 years of age and older or who are disabled, upon application and proof of eligibility, are exempt from all ad valorem taxes up to $7,500.00 of assessed value. The application for exemption must be filed with the individual county on or before April 1.

Do seniors pay property tax in Mississippi?

Are elderly persons or disabled persons exempt from property taxes? Persons 65 years or older and persons who are totally disabled, who are otherwise eligible for homestead exemption, are exempt from taxes on the first $75,000 of true value on their home.

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What is the free port warehouse exemption?

Mississippi stands out as a business-friendly state with its Freeport Warehouse Exemption, which allows eligible warehouses to operate tax-free on personal property shipped out of state.

FREE PORT WAREHOUSE REPORT OF INVENTORY MOVEMENT ... - dor ms 2025

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