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Feature Topics

December 2012 Agriculture & Natural Resources Industry Report

Agriculture remains a prime economic engine in Mississippi, representing approximately 24% of the state's revenue (or over $7 billion) and providing approximately 29% of its jobs. Although agriculture is risky, subject to weather events and pest infestations, it remains the most necessary of vocations: of the 7 billion people in the world today, approximately a billion are malnourished. read more...

Readers Comments

We were privileged to participate in this roundtable discussion and hope that you will benefit from the summary printed in this publication.

Beth Howell Hansen, Chief Executive Officer
Mississippi Association of REALTORS

Economic Indicators

Retail and food services sales in June 2014 were $439.9 billion, an increase of 0.2 percent from May 2014. Excluding automobiles, retail and food services sales in June 2014 were $351.9 billion.    Jul. 15, 2014 More»

Business inventories in May 2014 were $1,737.4 billion,up 5.6 percent from May 2013. Sales were $1,343.3 billion, up 4.6 percent from one year earlier.    Jul. 15, 2014 More»

Wholesale inventories in May 2014 were $532.7 billion, up 0.5 percent from the revised April level and up 7.9 percent from May 2013.    Jul. 10, 2014 More»

Exports of $195.5 billion and imports of $239.8 billion in May 2014 resulted in a goods and services deficit of $44.4 billion, down from $47.0 billion in April, revised.    Jul. 03, 2014 More»

New orders for manufactured goods in May 2014 declined 0.5 percent, to $497.7 billion. Unfilled orders rose 0.6 percent to $1,087.4 billion.    Jul. 02, 2014 More»

In May 2014 construction spending was $956.1 billion at a seasonally adjusted annual rate, 0.1 percent from the April 2014 revised estimate.    Jul. 01, 2014 More»

In May 2014 Personal income increased 0.4 percent. The personal saving rate as a percentage of DPI was 4.8 percent in May.    Jun. 26, 2014 More»

In the first quarter of 2014 real gross domestic product (GDP) decreased at an annual rate of 2.9 percent, Corporate profits decreased $198.3 billion (9.1% at a quarterly rate) in the first quarter.           Jun. 25, 2014 More»

In May 2014 new orders for manufactured durable goods decreased 1.0 percent, to $238.0 billion. Unfilled orders rose 0.6 percent, and inventories increased 1.0 percent in May 2014.    Jun. 25, 2014 More»

In May 2014 sales of new single family houses were 504,000 at a seasonally adjusted annual rate, up 18.6 percent from April's revised rate.    Jun. 24, 2014 More»

The U.S. current account deficit in the first quarter of 2014 increased to $111.2 billion, from $87.3 billion (revised) of GDP in the fourth quarter of 2013.             Jun. 18, 2014 More»

In May 2014, building permits were at a seasonally adjusted annual rate (SAAR) of 991,000, down 6.4 percent from the April rate.    Jun. 17, 2014 More»

The business inventories in April 2014 were $1,728.3 billion, up 0.6 percent from March. Sales were $1,337.4 billion, up 0.7 percent from March 2014.    Jun. 12, 2014 More»

Tax Corners

Tax Tips

Based on the statute of limitations, records need to be kept for three years after filing returns. However, if you file a fraudulent return or don't file a return (when you're required to do so), there's no limit. If you unreport your income by more than 25%, limitations period and the required record retention is 6 years. If you file a claim for a loss from worthless securities, the limitations period is 7 years. Keep records relating to your cost basis in property until the limitations period expires after you dispose of the property. read more...

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