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In order to attract and keep industry in Mississippi, the state offers a variety of incentives.  This document explains the more commonly used tax incentives that are currently available in the state.  Other incentives may be available to businesses that meet eligibility requirements.

Tax Incentives for Manufacturers

Tax Incentives for Distribution Centers

Tax Incentives for Data & Information Centers

Gulf Opportunity Zone Act of 2005

 

 


Executive Summary
A Synopsis of Mississippi & Leake County Incentives
For New and Expanding Industry

  • A Right-To-Work Law in the state constitution

  • Foreign Trade Zones

  • No sales tax on purchases of raw materials, processing chemicals, or packaging materials

  • Partial (50%) sales tax exemptions for purchases of construction materials, machinery and equipment in Leake County

  • A 1 1/2% sales tax on machinery and parts used directly in manufacturing and on industrial electricity, natural gas, and fuels

  • Favorable unemployment insurance rates and workers' compensation rates

  • State-sponsored financing programs for land, building, and new equipment

  • Favorable individual and corporate income tax rates

  • State income tax credits for five years of $500 for each new job created by a new or expanding business, providing 20 or more jobs are created

  • Five-year state income tax credits of $1000 for each new R&D job created

  • Companies establishing or transferring regional or national headquarters to Mississippi may be eligible for five-year state income tax credits of $1000 for each new job created and full sales tax exemptions for direct purchases of construction materials, machinery, and equipment for the headquarters facilities

  • State income tax credits equal to 50% of child/dependent care expenses

  • State income tax credits equal to 50% of basis skills training and job re-training expenses

  • State income tax credits for qualified industries in conjunction with certain bond financing agreements

  • Ten year exemptions from county and city property taxes, except school taxes and road and bridge taxes

  • Perpetual exemptions of all property taxes on finished goods distributed outside of the state through a Free Port Warehouse Law

  • Customized industrial training programs provided through the East Central Mississippi Community College

  • Utility companies offer discounts on telephone and electric rates to eligible companies

  • Quarterly incentive payments through a diversion of withholding taxes for certain qualified businesses

 

 

 

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