Mississippi Incentive Compensation Plan
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FAQ
The Growth and Prosperity (GAP) Program designates specific counties as GAP counties and provides income, franchise, sales and property tax incentives to companies that locate or expand in these areas of Mississippi.
Existing manufacturers that have operated in Mississippi for two or more years may be eligible for investment tax credits that can be applied to their state income tax liability. To qualify, an existing manufacturer must invest $1,000,000 or more in buildings and/or equipment used in the manufacturing operation.
The New Markets Credit allows a credit for income, insurance premium, or premium retaliatory taxes to investors in eligible equity securities issued by a Qualified Community Development Entity that has entered into an allocation agreement with the Community Development Financial Institutions Fund of the U.S. Treasury ...
Advantage Jobs Incentive Program: Qualified businesses that create at least 25 jobs paying at least 110% of the state or county average wage or businesses that are data and information processing enterprises that create at least 200 jobs may receive a rebate equal to a percentage of a company's payroll for up to 10 ...
Local governing authorities may grant a property tax exemption for up to 10 years on real and tangible personal property being used in the state. The exemption may be granted for all local property taxes except school district taxes on any property, with the exception of finished goods or rolling stock.
Through the Mississippi Flexible Tax Incentive Program, a taxpayer credit is provided to a new or expanding industry based on investment, job creation and average wages of the created jobs.
Mississippi Works Fund Grant: The Mississippi Works Fund is a flexible workforce training incentive that allows Mississippi to proactively meet the training needs of both new and existing employers in the state.
Designed to encourage businesses creating new, high-quality jobs to locate or expand in Mississippi, the Advantage Jobs Program provides a cash rebate to eligible businesses that create new jobs that meet or exceed the average annual wage of the state or the county in which the company locates.
