Incentives

Executive Summary

A Synopsis of Mississippi & DeSoto County Incentives for New and Expanding Industry

  • A Right-To-Work Law in the state constitution.
  • Northern Mississippi Foreign Trade Zone.
  • 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 DeSoto County.
  • A 1.5% 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 bond financing programs for land, building and new equipment that includes income tax
    credits and sales and use tax exemptions.
  • Favorable individual and corporate income tax rates.
  • State income tax credits for five years of 2.5% of payroll with the creation of 20 or more jobs.
  • Five-year state income tax credits of $1,000 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 $1,000 for each new job created and full sales tax exemptions for direct purchases of construction materials, machinery, and equipment for the headquarters facility.
  • 10 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 Northwest Mississippi Community College.
  • Utility companies offer discounts on telephone and electric rates to eligible companies.
  • Quarterly rebate payments through a diversion of withholding taxes for certain qualified businesses.

For more information, please call the DeSoto Council office at 662.429.4414 or click here to email questions.
You may also visit the Mississippi Development Authority or Mississippi State Tax Commission for more information.

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