State: | MS |
Incentive Type: | Income/Franchise Tax Incentives and Credits |
Incentive Title: | Other Tax Credits |
Description: | 1. RURAL ECONOMIC DEVELOPMENT CREDIT The credit is limited to 80% of the income tax liability attributable to the project. The amount of the credit is determined by formula adopted by the MBFC. Any excess credit can be carried forward three years. 2. AD VALOREM CREDIT An income tax credit is available for ad valorem tax paid on commodities, goods, wares or merchandise held for resale of a business. The credit is limited to the lesser of $5000 or 100% of the income tax liability as determined by meeting the qualifying criteria. 3. EXPORT/IMPORT CREDIT An income tax credit is available to taxpayers that utilize port facilities at specific state, county and municipal ports or harbors. The maximum amount of credit that can be claimed is $1.2 million and can be used to offset 50% of income tax liability. allowed shall be the total of export cargo charges paid on receiving into the port, handling to a vessel and wharfage. 4. CHILD/DEPENDENT CARE CREDIT An income tax credit is allowed to any employer providing dependent care for its employees during the employees working hours. The credit allowed is 25% to 50% of qualified expenses. 5. BROADBAND TECHNOLOGY TAX CREDIT An income or franchise tax credit is available for qualified telecommunications equipment based on a percentage of the cost of equipment used in the deployment of broadband technology. |
Eligibility Requirements: | 1. Must be a qualified business that is using Industrial Revenue Bonds. 2. Must be a qualified business. Must have paid an ad valorem tax. 3. Must be a qualified business. Must utilize port facilities to import and export. 4. Must be a qualified business. An employer must have its child care program certified by the Department of Health. 5. Qualified telecommunications equipment must be sold directly to, billed directly to, and paid for directly by the business receiving the credit. |
Geographic Restrictions: | Statewide |
Granting Authority: | 1. Development Authority 3. Tax Commission |
27-13-5&7, 57-75-5; 57-87-5 & 57-73-21; |
The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com |
Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives. |
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