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Miss. Code Ann. § 71-5-506

Advice to claimants as to taxation of benefits; change of withholding status; deduction and withholding of tax

Known as the Mississippi Employment Security Law

The act spans §§ 71–71 (89 sections).

Laws, 1996, ch. 464, § 1, eff from and after July 1, 1996.

(1) An individual filing a new claim for unemployment compensation shall, at the time of filing such claim, be advised that: Unemployment compensation is subject to federal, state and local income tax;

(2) Requirements exist pertaining to estimated tax payments;

(3) The individual may elect to have federal income tax deducted and withheld from the individual’s payment of unemployment compensation at the amount specified in the Federal Internal Revenue Code;

(4) The individual shall be permitted to change a previously elected withholding status.

(5) Amounts deducted and withheld from unemployment compensation shall remain in the unemployment fund until transferred to the federal taxing authority as a payment of income tax.

(6) The commission shall follow all procedures specified by the United States Department of Labor and the Federal Internal Revenue Service pertaining to the deducting and withholding of income tax.

(7) Amounts shall be deducted and withheld in accordance with the priorities established in regulations developed by the commission.

Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.