MS Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Mississippi (MS). With its agriculture, manufacturing, and military installations, we understand the unique financial landscape that comes with doing business in Mississippi.
Under the CPA Mobility Act, our CPA — licensed in Maryland, Delaware, and Florida — is authorized to provide the full range of attestation, tax, and advisory services to Mississippi clients without the need for an additional state license. This means Mississippi individuals and businesses receive the same comprehensive service as our home-state clients: financial statement audits, tax strategy, IRS representation, virtual CFO services, and every other service we offer — delivered through our technology-forward, virtual-first practice model.
CPA Services Available in Mississippi (MS)
MS Individual Tax Preparation
Comprehensive federal and Mississippi state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →MS Business Tax Services
Tax preparation and planning for Mississippi-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →MS Cryptocurrency Tax
Specialized crypto tax services for Mississippi investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →MS Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Mississippi.
Learn More →MS IRS Resolution
Professional representation before the IRS for Mississippi taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →MS 83(b) Elections
Equity compensation planning and 83(b) election filing for Mississippi startup employees and founders receiving restricted stock.
Learn More →MS Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →MS Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →MS Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →MS Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →MS Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →MS Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →MS Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →MS Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →MS Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →MS Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →MS Capital Markets Advisory
Securities compliance, FINRA regulatory guidance, and capital markets advisory for businesses navigating public offerings, private placements, and broker-dealer requirements.
Learn More →Mississippi Audit Services in Detail
Mississippi businesses, nonprofits, and benefit plan sponsors typically need an independent audit when state law, federal rules, lenders, grantmakers, or boards require external assurance. We perform GAAS-compliant attest engagements scoped to the specific assurance need — most commonly:
Mississippi Nonprofit Audits
Under Mississippi's Charitable Solicitations Act, charities registered with the Mississippi Secretary of State are generally required to submit audited financial statements when annual contributions exceed $500,000, and reviewed financial statements when contributions are between $250,000 and $500,000. Audited statements are also routinely expected by the Phil Hardin Foundation, the W.K. Kellogg Foundation's MS programs, the Foundation for the Mid South, the United Way affiliates, and federal subrecipient grantors.
Mississippi 401(k) & Employee Benefit Plan Audits
Mississippi plan sponsors filing Form 5500 generally require an ERISA-compliant audit when the plan has 100 or more participants with account balances at the start of the plan year. We perform full-scope and §103(a)(3)(C) limited-scope benefit plan audits for 401(k), 403(b), and defined-benefit plans across Mississippi, including plans sponsored by Ingalls Shipbuilding (Pascagoula — HII Mississippi operations; the largest U.S. supplier of warships), Nissan Canton, Toyota Blue Springs, Mississippi gaming operators (Tunica, Gulf Coast casinos), Sanderson Farms, Cal-Maine Foods, Trustmark Bank, and Mississippi healthcare systems.
Mississippi Single Audits (Uniform Guidance)
Mississippi nonprofits, municipalities, school districts, and pass-through subrecipients that expend $1,000,000 or more in federal awards in a fiscal year are subject to the Single Audit requirements of 2 CFR Part 200.
Mississippi Lender, Bonding & Investor Audits
Mississippi banks (Trustmark, Renasant, Cadence Bank), surety companies, and Mississippi-based private equity, venture, and growth investors frequently require audited financial statements as a condition of credit facilities, surety capacity, or capital raises.
Mississippi Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Mississippi lenders and stakeholders requiring CPA-prepared financial statements.
Mississippi (MS) Tax & Business Landscape
Key Mississippi Tax Numbers. Personal income tax: flat rate declining annually under recent reform — 4.7% in 2024, dropping to 4.4% in 2025, with statutory triggers planned to reduce the rate further toward eventual elimination. Corporate income tax: similarly being simplified. Sales and use tax: 7% state — among the highest state-only sales tax rates in the country (most counties/cities do not add meaningful local sales tax, so the combined rate is largely the 7% state rate). MS notably taxes groceries at 7% (the highest grocery tax rate in the U.S.). Estate tax: none. Pass-through entity (PTE) elective tax: rate matches personal IT, available since tax year 2022.
Filing Mechanics. Individuals file Form 80-105 (residents) or Form 80-205 (nonresidents and part-year residents). C-corporations file Form 83-105. Partnerships file Form 84-105; S-corps file Form 84-105. PTE election is made on partnership/S-corp returns. Returns are due April 15 and administered by the Mississippi Department of Revenue.
Mississippi Economy & Who We Serve. Mississippi's economy spans shipbuilding (Ingalls Shipbuilding in Pascagoula — operated by HII; the largest U.S. supplier of warships, building DDG-51 Arleigh Burke-class destroyers, LHD/LHA amphibious ships, and Coast Guard cutters), automotive manufacturing (Nissan Canton; Toyota Blue Springs), gaming (Tunica River casinos and Gulf Coast Biloxi casinos), agriculture (catfish — the largest U.S. catfish-producing state; soybeans, cotton, poultry — Cal-Maine Foods is the largest U.S. shell-egg producer), forestry, healthcare, and military (Keesler AFB, Naval Air Station Meridian, Camp Shelby). Our typical MS clients include Ingalls/HII shipbuilding professionals, Nissan and Toyota auto workers, Mississippi gaming industry professionals, agricultural operators, and high-net-worth families.
CPA Mobility in Mississippi. Mississippi has adopted CPA mobility provisions under the Uniform Accountancy Act. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Mississippi State Board of Public Accountancy mobility and firm registration requirements before commencing any engagement.
Cities and Communities We Serve. Our virtual-first practice serves clients across all of Mississippi, including Jackson (state capital; largest city), Gulfport, Southaven, Hattiesburg, Biloxi (Gulf Coast gaming), Tupelo, Olive Branch (Memphis metro), Meridian, Pascagoula (Ingalls Shipbuilding), Tunica (Mississippi River gaming), the Gulf Coast, the Mississippi Delta, the Pine Belt, and every Mississippi county.
Why Mississippi Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, benefit plans, shipbuilding contractors, gaming operators, and privately held businesses
- Deep expertise in MS-specific issues: Mississippi's flat-tax phase-down, MS PTE elections, Ingalls Shipbuilding federal contractor accounting (CAS, DCAA), Mississippi gaming industry tax accounting (Tunica, Biloxi Gulf Coast), Nissan/Toyota automotive equity compensation, and Mississippi's high state sales tax planning
- Capital markets background — Kurt Simmons has passed the Series 65 examination (Passed; not currently held as an active license) in addition to holding the CPA
- Specialized practices in cryptocurrency taxation, active trader tax, and 83(b) elections for MS startup employees
- Technology-forward, virtual-first delivery — secure client portal, e-signature, and video consultations
- Transparent, fixed-fee engagements where possible — no surprise hourly invoices
Mississippi CPA — Frequently Asked Questions
Do I need a Mississippi-licensed CPA?
Mississippi has adopted CPA mobility provisions under the Uniform Accountancy Act. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable firm-level Mississippi State Board of Public Accountancy registration before commencing attest engagements.
What is Mississippi's income tax rate?
Mississippi has a flat personal income tax that has been declining annually under recent reform — 4.7% in 2024, dropping to 4.4% in 2025, with statutory triggers planned to reduce the rate further toward eventual elimination. The MS corporate income tax is similarly being simplified. Form 80-105 (residents) or 80-205 (nonresidents/PY) is due April 15.
Does Mississippi have a SALT-cap workaround?
Yes. Mississippi enacted an elective Pass-Through Entity Tax effective for tax years beginning on or after January 1, 2022. Eligible S-corps and partnerships pay an entity-level tax tracking the personal income tax rate, and members receive a corresponding credit on Form 80-105.
Why is Mississippi's sales tax so high?
Mississippi has a 7% state sales tax — among the highest state-only rates in the U.S. Most counties and cities do not add a meaningful local sales tax, so the combined rate is largely the 7% state rate. Mississippi taxes most categories that some other states exempt, including groceries (taxed at 7%, the highest grocery tax rate in the U.S.) — a regularly debated policy issue.
What special tax issues apply to Mississippi gaming and shipbuilding?
Mississippi's gaming industry — concentrated in Tunica (Mississippi River) and the Gulf Coast (Biloxi) — faces specialized issues including state gross gaming revenue tax, regulatory compliance with the Mississippi Gaming Commission, tip income reporting, and professional gambler tax classification. Mississippi shipbuilding (anchored by Ingalls Shipbuilding in Pascagoula — the largest U.S. supplier of warships including DDG-51 destroyers, LHD-class ships, and Coast Guard cutters) faces federal contracting accounting, CAS compliance, and DCAA audit issues. We support both industries.
When does my Mississippi nonprofit need an audit?
Under Mississippi's Charitable Solicitations Act, charities registered with the Mississippi Secretary of State are generally required to submit audited financial statements when annual contributions exceed $500,000, and reviewed financial statements when contributions are between $250,000 and $500,000. Federal Single Audit requirements apply when federal expenditures exceed $1,000,000.
Do you serve Mississippi clients outside Jackson?
Yes. Our practice is virtual-first, so we serve clients across all of Mississippi — including Gulfport, Southaven, Hattiesburg, Biloxi, Tupelo, Olive Branch, Meridian, the Gulf Coast, the Mississippi Delta, the Pine Belt, and every Mississippi county.