Mississippi Self-Employment Tax Calculator

Calculate your self-employment tax, federal income tax, and Mississippi state income tax as a freelancer or 1099 contractor. Mississippi has a flat income tax rate of 4.

Annual Tax Breakdown

1099 Income
$85,000
Business Expenses
-$10,000
Net Profit
$75,000
Net Earnings (92.35%)(SE tax base)
$69,263
Social Security (12.4%)
-$8,589
Medicare (2.9%+)
-$2,009
Total SE Tax
-$10,597
SE Deduction (50%)(reduces income tax)
$5,299
Federal Income Tax
-$6,794
State Income Tax
-$3,525
Total Tax Owed
$20,916

Summary

Total Income
$75,000
Total Taxes
-$20,916
After-Tax Income
$54,084
Effective Tax Rate(on total income)
27.9%

Quarterly Estimated Payments

Q1 (Jan-Mar)Due April 15
$5,229
Q2 (Apr-May)Due June 15
$5,229
Q3 (Jun-Aug)Due September 15
$5,229
Q4 (Sep-Dec)Due January 15 (next year)
$5,229
Each Quarterly Payment
$5,229

Tax Breakdown

See your complete freelancer financial picture

Your estimated quarterly tax payment is $5,229. Model your freelance income alongside expenses, savings, and investments in the full simulator.

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Mississippi Tax Overview for Freelancers

Mississippi has a flat income tax rate of 4.7%. Combined with the lowest cost of living in the nation, Mississippi is very affordable. Self-employed individuals in Mississippi pay federal self-employment tax (15.3%) plus federal income tax, and Mississippi state income tax on their net self-employment earnings.

Flat 4.7% rateLowest cost of living in the nationNo tax on Social Security or retirement income

Self-Employment Taxes in Mississippi

If you work as a freelancer or independent contractor in Mississippi, your tax situation involves multiple layers: federal self-employment tax, federal income tax, and Mississippi state income tax. Understanding how each component works helps you plan your quarterly estimated payments and maximize your deductions.

Mississippi Income Tax for Freelancers

Mississippi has a flat income tax rate of 4.7%. Combined with the lowest cost of living in the nation, Mississippi is very affordable.

Cost of Living for Freelancers in Mississippi

Mississippi has the lowest cost of living in the US, approximately 16% below the national average. As a freelancer in Mississippi, your effective earnings depend not just on your tax rate but also on what your after-tax income can buy. Consider local costs for housing, coworking spaces, and daily expenses when setting your rates.

Financial Tips for Mississippi Freelancers

  • Mississippi has the lowest cost of living in the US — your salary goes further here than anywhere
  • Mississippi's 4.7% flat rate is straightforward and moderate
  • Mississippi does not tax Social Security benefits or retirement income
  • Consider remote work opportunities to earn higher salaries while enjoying Mississippi's low costs

Key Mississippi Tax Features

  • Flat 4.7% rate
  • Lowest cost of living in the nation
  • No tax on Social Security or retirement income

Model Your Mississippi Freelance Finances Over Time

This calculator shows your Mississippi tax bill. Trajectoryy's full simulator models your freelance income alongside expenses, savings, investments, and more — month by month for years into the future.

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Compare Mississippi with Other States

TennesseeNo income taxAlabama5% top rateLouisiana4.25% top rateCalifornia13.3% top rateHawaii11% top rateNew York10.9% top rate

Frequently Asked Questions

How is self-employment tax calculated in Mississippi?
Self-employed workers in Mississippi pay federal self-employment tax (15.3% on 92.35% of net earnings), federal income tax, and Mississippi state income tax. Mississippi has a flat income tax rate of 4.7%. Combined with the lowest cost of living in the nation, Mississippi is very affordable.
How much will I owe in quarterly taxes as a freelancer in Mississippi?
Your quarterly estimated tax payment in Mississippi depends on your total tax liability — including SE tax, federal income tax, and Mississippi state income tax. Use the calculator above to estimate your quarterly payments. As a general rule, freelancers should set aside 25-35% of their net income for taxes.
What business deductions are available for Mississippi freelancers?
Freelancers in Mississippi can deduct the same federal business expenses as in any state: home office, equipment, software, health insurance, vehicle expenses, and more. These deductions also reduce your Mississippi state taxable income, providing additional state tax savings.
Does Mississippi have any special taxes for self-employed workers?
Mississippi does not have a separate self-employment tax. However, your net self-employment income is subject to Mississippi's regular income tax (4.7% top rate) in addition to federal self-employment tax and federal income tax.
Should I form an LLC or S-Corp as a freelancer in Mississippi?
The decision to form an LLC or S-Corp in Mississippi depends on your income level. Generally, if your net self-employment income exceeds $50,000-$60,000, an S-Corp election may save you money by allowing you to pay yourself a reasonable salary (subject to FICA/Medicare) while taking the rest as distributions (not subject to SE tax). Consult a Mississippi tax professional for advice specific to your situation.

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Gross Income$65,000
Federal Tax-$7,462
State Tax-$2,384
FICA + Medicare-$4,973
Net Pay$50,181
Monthly$4,182/mo
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Monthly+$500
Return8%/yr
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Earnings$555,620
Final Balance$745,620
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