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Can you summarize 75 MSCO Chapter 76, Taxation of Cruise Vessels and Vessels?
Mississippi Gaming Control Act > Taxation of Cruise Vessels and Vessels
Short Summary
This legal document pertains to the temporary exemption of cruise vessels or vessels licensed under the Mississippi Gaming Control Act from ad valorem taxes. From June 29, 1990, until June 30, 1991, any cruise vessel or vessel used for gambling games, as determined by the Tax Commission, is exempt from all ad valorem taxes. The State Tax Commission is required to report to the Legislature by December 1, 1990, with a recommendation for an equitable method of imposing a tax on these cruise vessels and vessels. The document also includes an editor’s note clarifying that the terms ‘State Tax Commission’ and ‘Tax Commission’ refer to the Department of Revenue. Additionally, an Attorney General opinion states that all property utilized in conjunction with gaming casinos is subject to ad valorem taxation in the same manner as any other business property.
Whom does it apply to?
Cruise vessels or vessels used for gambling games, as determined by the Tax Commission
What does it govern?
Temporary exemption of cruise vessels or vessels licensed under the Gaming Control Act from ad valorem taxes
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Mississippi