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Incentives for Relocation

Choctaw County Tax Advantages for Businesses

Choctaw County is classified as a Tier Three County (view map), meaning businesses creating jobs in Choctaw County are eligible for the highest level of  financial advantages from the state of Mississippi.

  • No sales tax for direct purchase of construction materials, machinery or equipment for qualified businesses (learn more about the Sales and Use Tax Exemption)
  • Rebates for a percentage of the Mississippi payroll for the creation of new jobs for qualified businesses (learn more about the Advantage Jobs Incentive Program)
  • Tax credit of 10% of payroll for creation of 10 or more new jobs for qualifying businesses (learn more about the Jobs Tax Credit)

State Financial Incentives for Business Relocating  Mississippi

Mississippi has a variety of incentives including grants, loans, tax credits, and other programs for businesses moving or relocating to Mississippi. The following is a selected list of programs. For a full listing, visit the Mississippi Development Authority’s website.

  • Mississippi is a right-to-work state

Summary of Business Benefits from Mississippi Tax Advantages

Sales Tax Benefits

  • No sales tax on raw materials, chemicals for processing, or materials for packaging
  • Low 1.5% sales tax on industrial electricity, natural gas, and other fuels
  • Low 1.5% sales tax for manufacturers on machinery and parts
  • No sales tax on direct purchases of construction materials, machinery, and equipment for a new regional or national headquarters facility transferred to Mississippi

State Income Tax Credits

  • $1,000 for each new research and development job for a period of five years
  • $500-$2,000 for each new job for transfer of regional or national headquarters to Mississippi (depends on qualified employee’s wages), for a period of five years
  • 50% of child care expenses (Child Dependent Care Credit)
  • 50% of basic skills training and job retraining expenses
  • Tax credits for certain bonds issued through the Mississippi Business Finance Corporation for qualified businesses

Property Tax Exemptions

  • Exemptions from county property taxes are available for qualified businesses, with the exception of  school taxes
  • Exemptions of property taxes on finished goods are available through a Free Port Warehouse Law for qualified industries

Loans and Bonds (Selected List)

The following is a selected list of programs. For a full listing, visit the Mississippi Development Authority’s website.

Name of ProgramBenefitsTerms and QualificationsMore information
Industrial Development Revenue Bond Program (IRB)Reduces interest costsEligible companies may receive corporate income tax credits, sales tax exemptions, and ad valorem exemptions.View eligibility requirements
Mississippi Rural Economic Development Assistance Programs (RED)Corporate income tax credits and ad valorem exemptionsUsed in conjunction with IRBView details and terms
Mississippi Small Enterprise Development Finance Program (SED)Tax-exempt financingUsed in conjunction with IRBView terms and details

Tax Credits (Selected List)

The following is a selected list of programs. For a full listing, visit the Mississippi Development Authority’s website.

Name of ProgramCredit AmountApplies ToQualifications
National or Regional Headquarters Tax CreditBetween $500-$2,000 per new job createdState income taxFor companies that transfer a regional or national headquarters to Mississippi.See full program details.
National or Regional Headquarters Sales Tax CreditNo sales tax on construction materials, machinery or equipment.Sales taxFor companies that transfer a regional or national headquarters to Mississippi. View full program details.
Industrial Property Tax ExemptionUp to a 10-year exemption on real and tangible personal proeprtyProperty taxDoes not include exemption on school taxes. View eligible industries and full program details.
Jobs Tax Credit10% of eligible payroll each year for 5 yearsPayroll taxesAt least 10 jobs must be created. View a list of eligible businesses and full program details.
Sales and Use Tax Exemption for Construction or ExpansionApplies to 7% sales tax on construction materials, equipment, and other assets for the project.
Applies to 1.5% sales tax on manufacturing machinery
Sales and use taxView full program details.

 

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