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On December 28, 2025, Mississippi Governor John Smith signed a bill into law that will provide tax breaks for small businesses in the state. The bill, known as the Small Business Tax Relief Act, aims to stimulate economic growth and support small businesses that have been struggling due to the ongoing pandemic.Under the new law, small businesses with less than 50 employees will be eligible for a 10% tax break on their state income tax. This tax break will provide much-needed relief for small businesses that have been hit hard by the economic downturn caused by the COVID-19 pandemic.In a statement, Governor Smith expressed his support for the bill, saying, "Small businesses are the backbone of our economy, and it is important that we support them during these challenging times. This tax break will help small businesses recover and thrive in the post-pandemic economy."The bill was met with bipartisan support in the Mississippi Legislature, with lawmakers from both parties recognizing the importance of supporting small businesses during this difficult time. State Senator Jane Doe, a Democrat who co-sponsored the bill, praised the legislation, saying, "Small businesses are the lifeblood of our communities, and it is crucial that we provide them with the support they need to survive and thrive."The Small Business Tax Relief Act is set to go into effect on January 1, 2026, and small businesses will be able to take advantage of the tax break when they file their state income taxes for the 2026 tax year.Overall, the bill is seen as a positive step towards strengthening Mississippi's economy and supporting its small businesses. With the implementation of this new law, small businesses in the state will have the opportunity to recover and grow in the years to come.