Taxes and Incentives
Taxes levied on businesses by the State of Mississippi include taxes such as corporate income tax, sales and use tax, and franchise tax. However, numerous tax incentive programs exist to minimize or in some cases totally alleviate the tax burden for a period of time associated with a specific project.
Real and personal property taxes and inventory taxes are levied at the local level by cities and counties in Mississippi. Incentives are available to offset non-educational property taxes for up to 10 years for a specific qualifying project and to eliminate the inventory tax in perpetuity. The local tax incentives must be approved by the city and county where the qualifying project is located.
This Taxes and Incentives section highlights major tax categories in Mississippi and outlines the most commonly used tax incentives that are currently available to businesses that meet eligibility requirements. In addition, workforce training incentives are available and described in detail herein.
The project management team at the ADP is well versed in understanding the mechanics of these incentive programs, forms that need to be completed, and the process to apply for these incentives through the appropriate governmental bodies. Please contact J.R. Robinson for additional information.