Updated October 23, 2025
Capital Gains: 0-5%Income Tax: 0-5%Quick Facts: Mississippi, United States Crypto Taxes
Capital Gains Tax
0-5%Income Tax Rate
0-5%Tax Summary
In Mississippi, cryptocurrency is treated as property for tax purposes, following federal IRS guidelines. Capital gains and income from crypto activities are subject to state income tax. Tax rates are progressive, ranging from 0% to 5%.
Capital Gains Tax
0-5%- Crypto capital gains are classified as ordinary income in Mississippi.
- Gains are taxed at state income tax rates of 0% on the first $1,000, 3% on $1,001-$5,000, 4% on $5,001-$10,000, and 5% above $10,000.
- No specific exemptions for crypto gains; standard deductions apply.
- Holding period does not affect classification; all gains taxed as ordinary income.
- Losses can offset gains and up to $3,000 of ordinary income.
- Gains are taxed at state income tax rates of 0% on the first $1,000, 3% on $1,001-$5,000, 4% on $5,001-$10,000, and 5% above $10,000.
- No specific exemptions for crypto gains; standard deductions apply.
- Holding period does not affect classification; all gains taxed as ordinary income.
- Losses can offset gains and up to $3,000 of ordinary income.
Income Tax
0-5%- Mining income is taxed as ordinary income upon receipt in Mississippi.
- Staking rewards are treated as ordinary income when earned.
- Income from crypto is subject to progressive state rates: 0% to 5% based on total taxable income.
- Self-employment taxes may apply if mining or staking is a business.
- Airdrops and forks are taxable as income at fair market value.
- Staking rewards are treated as ordinary income when earned.
- Income from crypto is subject to progressive state rates: 0% to 5% based on total taxable income.
- Self-employment taxes may apply if mining or staking is a business.
- Airdrops and forks are taxable as income at fair market value.
Reporting Requirements
- Report all crypto income and gains on Mississippi state tax return if you have state taxable income.
- Use Form 80-105 for residents or Form 80-205 for non-residents.
- File by April 15, or October 15 with extension.
- Maintain records of transactions, including dates, values, and costs.
- Report if federal adjusted gross income requires state filing.
- Use Form 80-105 for residents or Form 80-205 for non-residents.
- File by April 15, or October 15 with extension.
- Maintain records of transactions, including dates, values, and costs.
- Report if federal adjusted gross income requires state filing.
Special Notes
- Mississippi conforms to federal treatment of virtual currency as property.
- No state sales tax on crypto purchases, but use tax may apply for certain transactions.
- Recent federal clarifications on crypto may impact state reporting; check for updates.
- Consult a tax professional for complex situations like DeFi or NFTs.
- No specific crypto amnesty programs in Mississippi.
- No state sales tax on crypto purchases, but use tax may apply for certain transactions.
- Recent federal clarifications on crypto may impact state reporting; check for updates.
- Consult a tax professional for complex situations like DeFi or NFTs.
- No specific crypto amnesty programs in Mississippi.
Other US States
Compare state-level crypto tax differences across the United States.
Alabama
CG: 2-5%Income: 2-5%
Alaska
CG: 0%Income: 0%
Arizona
CG: 2.5%Income: 2.5%
Arkansas
CG: Varies (0% - 4.9%)Income: Varies (0% - 4.9%)
California
CG: 1-13.3%Income: 1-13.3%
Colorado
CG: 4.4%Income: 4.4%
Connecticut
CG: 3-6.99%Income: 3-6.99%
Delaware
CG: 0% - 6.6%Income: 0% - 6.6%
Florida
CG: 0%Income: 0%
Georgia
CG: 1-5.75%Income: 1-5.75%
Hawaii
CG: 1.4% - 11%Income: 1.4% - 11%
Idaho
CG: 0-5.8%Income: 0-5.8%
Illinois
CG: 4.95%Income: 4.95%
Indiana
CG: 3.05% state + 0-3.38% countyIncome: 3.05% state + 0-3.38% county
Iowa
CG: Varies (4.40% - 6.00%)Income: Varies (4.40% - 6.00%)
Kansas
CG: 3.1-5.7%Income: 3.1-5.7%
Kentucky
CG: 4.5%Income: 4.5%
Louisiana
CG: 1.85% - 4.25%Income: 1.85% - 4.25%
Maine
CG: 5.8% - 7.15%Income: 5.8% - 7.15%
Maryland
CG: Varies (2% - 5.75% state + 1.75% - 3.2% local)Income: Varies (2% - 5.75% state + 1.75% - 3.2% local)
Massachusetts
CG: 5-12%Income: 5%
Michigan
CG: 4.25%Income: 4.25%
Minnesota
CG: 5.35% - 9.85%Income: 5.35% - 9.85%
Missouri
CG: 1.5-5.3%Income: 1.5-5.3%
Montana
CG: 1%-6.9%Income: 1%-6.9%
Nebraska
CG: 2.46% - 6.64%Income: 2.46% - 6.64%
Nevada
CG: 0%Income: 0%
New Hampshire
CG: 0%Income: 0%
New Jersey
CG: 1.4% - 10.75%Income: 1.4% - 10.75%
Mississippi Crypto Tax FAQ
In Mississippi, cryptocurrency is treated as property for tax purposes, following federal IRS guidelines. Capital gains and income from crypto activities are subject to state income tax. Tax rates are progressive, ranging from 0% to 5%.
The state-level capital gains treatment in Mississippi is currently listed as 0-5%.
- Report all crypto income and gains on Mississippi state tax return if you have state taxable income.
Compare With Other Countries
Disclaimer: This information is AI-generated and for educational purposes only. Tax laws are complex and subject to change. Always consult with a qualified tax professional for advice specific to your situation.