Mississippi Estate Taxes

The Mississippi estate tax is designed to absorb the federal estate tax credit for state death taxes. No additional estate tax is imposed.

Deductions. The Mississippi deductions from the estate are essentially the same as those allowed under federal estate tax law.

Returns. An advance return is due within 60 days after the decedent's death or the qualification of the executor. The advance return must provide the decedent's name, date of death, the name of the attorney handling the estate, the probable value of the gross estate, and a list of transfers made by the decedent within two years prior to death. A detailed return must then be filed within nine months, unless an extension is granted.

Any Mississippi estate taxes owed must be paid within nine months of the decedent's death. A six-month payment extension may be granted when an earlier payment would cause undue hardship on the estate.

Generation-skipping transfer tax. Mississippi does not impose this type of tax.