Mississippi Estate Taxes

Mississippi's estate tax is a "pick-up" tax equal to the state death tax credit under federal estate tax law. Since this credit has been repealed for the period from 2005 through 2010, there are currently no estate taxes imposed by the state.

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.