Mississippi Development Authority

Financial Assistance for Business Customers

The Mississippi Development Authority (MDA), through the Financial Resources Division, administers a variety of incentive programs designed to assist businesses in obtaining loans for development and expansion and to posture the State as an agressive competitor in the global market.

Grant Programs for Business Customers

Loan Programs for Business Customers

Financial Assistance for Communities

Grant Programs for Communities

Loan Programs for Communities

Other Finance Programs

Appalachian Regional Commission (ARC) (PDF)
Delta Regional Authority (DRA) (PDF)
Mississippi Business Finance Corporation (MBFC)
Local Industrial Revenue Bonds (IRB) (PDF)
General Obligation Bonds (GO Bonds) (PDF)
Small Business Assistance Loan Program (PDF)

Tax Incentives

A number of tax incentives are available for new and expanding industry in Mississippi. Incentive packages can be tailored for specific projects based upon industry type, business location and number of jobs created. Some credits available include:

Advantage Jobs Incentive Program (PDF)
Job Tax Credits (PDF)
Rural Economic Development Credits (RED) (PDF)
Existing Manufacturer Tax Credits (PDF)
Growth and Prosperty Program (GAP) (PDF)
National or Regional Headquarters Jobs Credit (PDF)
Research and Development Jobs Credit (PDF)
Sales and Use Tax Exemption for Construction or Expansion (PDF)
Sales and Use Tax Exemption for Bond Financing (PDF)
Skills Training Tax Credit (PDF)
Property Tax Exemptions (PDF)
Child/Dependent Care Tax Credit (PDF)
Industrial Revenue Bond Exemptions (PDF)
Free Port Warehouse Exemption (PDF)
In-State Inventory Exemption (PDF)
Broadband Technology Ad Valorem Exemption (PDF)
Economic Redevelopment Act (Brownfields)

Other Income Tax Credits which are most industry specific exist, such as the Ad Valorem Tax Credit, Alternative Energy Tax Credit, Export Charges Tax Credit, Import Port Tax Credit, and the Motion Picture Production Tax Incentive. Contact MDA for more information.

Taxes in Mississippi

All businesses in Mississippi are subject to state taxes. These taxes fall into four basic types:

Actual state tax requirements vary widely depending upon corporate structure and activities, but the following information is provided as a broad guideline to identify existing tax levies along with possible incentives available to reduce tax liabilities. All tax incentives and credits are subject to approval by the Mississippi State Tax Commission.

OTHER TAXES

Withholding of Personal Income Tax (Word)
State Unemployment Compensation Tax (Word)
Worker's Compensation (Word)

Tax Incentive Summary (PDF)
Key Financing Program Summary (PDF)
Annual Average Salary 2006 (PDF)
Mississippi State Tax Commission County Ranking and Designation (PDF)

A number of incentives are based upon level of development in a specific county. This county ranking, using the combination of the highest unemployment rate and the lowest per capita income for the most recent 36 month period, is being provided as a resource to determine incentives available per county.

Section 57-73-21, MS Code

For more information:
Financial Resources Division
Telephone: 601.359.3552
Fax: 601.359.3619
financial@mississippi.org

AUDIT: All loans made through Mississippi Development Authority and listed in the http://www.mississippi.org/ website are subject to audit by the State Auditor's Office.

WAIVER: Any programs and/or guidelines listed on the Mississippi.org website may be amended by Mississippi Development Authority at any time. MDA, in its discretion, may temporarily waive any requirement of the guidelines to the extent that the result of such action is to promote the public purpose of the Act and is not prohibited by law.

For more information on individual incentive programs offered through Mississippi Development Authority please click on the program link above for contact information.