Mississippi Tax Incentives
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Mississippi Tax Incentives
Page Contents
- Advantage Jobs Incentive Program
- Agribusiness Enterprise Loan Program
- Assistive Technology
- Capital Access Contract Loan Program
- Chamber of Commerce
- Device Loan Program
- Economic Development Agencies
- Employee Training
- Existing Industry Productivity Loan Program
- Growth and Prosperity Program
- Jobsite Accommodations
- Jobs Tax Credit
- Manufacturing Investment Tax Credit
- Mississippi Data Center Incentives
- Mississippi Department of Rehabilitation Services – Services for Employers
- Mississippi Health Care Industry Zone Incentive Program
- National or Regional Headquarters Tax Credit
- Sales and Use Tax Exemption for Construction or Expansion
- T.K. Martin Center
Advantage Jobs Incentive Program
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.
Some of the jobs generated by this program can go to employees with disabilities.
Agribusiness Enterprise Loan Program
The Agribusiness Enterprise Loan Program provides loans through financial institutions to agriculture-related businesses in Mississippi to encourage job creation and the growth of the state’s agricultural industry. The program provides low-cost state financing that is used in combination with a private financial lending institution’s loan proceeds to encourage the issuance of loans to agribusinesses in Mississippi.
Job creation for workers with disabilities in the agriculture industry is an appropriate use of a of this loan.
Agribusiness Enterprise Loan Program Overview PDF
Assistive Technology
Rehabilitation Engineers and Technologists are available to provide consultation on all Assistive Technology (AT) referrals as well as perform initial evaluations and assessments, set up AT equipment, provide follow-up evaluations, design and fabricate original items, and provide specifications and final inspections for AT services.
Capital Access Contract Loan Program
The Capital Access Contract Loan Program assists socially and economically disadvantaged businesses as designated by the U. S. Small Business Act by providing loans to borrowers with contracts with public entities who may have difficulty obtaining conventional loans.
Entrepreneurs with disabilities who have difficulty qualifying for conventional loans may be eligible for this loan.
Capital Access Contract Loan Program Overview PDF
Chamber of Commerce
This website has a list of Chambers of Commerce throughout Mississippi.
Device Loan Program
Project START provides a short term equipment loan program allowing an individual to try a device before purchasing it. This program also lets an individual to borrow a device to use while theirs is being repaired or while funding is being secured for the acquisition of a new one.
Economic Development Agencies
The Mississippi Development Authority (MDA) is the state of Mississippi’s lead economic and community development agency, with approximately 300 employees engaged in providing services to businesses, communities and workers throughout Mississippi. The agency works to recruit new business to the state and retain and expand existing Mississippi industry and business. MDA also provides technical assistance to the state’s entrepreneurs and small businessmen and women and oversees programs that support Mississippi’s minority and women-owned businesses.
Employee Training
The Mississippi Department of Employment Security will pay up to half the wages of new workers while they are receiving on-the-job training.
A recently hired worker who has a disability can be trained for his/her new position using this method.
On-The-Job Training Brochure PDF
Existing Industry Productivity Loan Program
The Existing Industry Productivity Loan Program provides loans to existing Mississippi manufacturers to help them retain jobs in the state and improve their productivity. Loan proceeds can be used to finance fixed, long-term assets which will improve the company’s productivity and competitiveness through new technology. Existing manufacturers that have operated in the state for at least two years may apply for this program. In addition, municipalities or counties may apply for a loan to assist a manufacturing enterprise in their area deploy long-term fixed assets.
Existing Industry Productivity Loan Program PDF
Growth and Prosperity Program
The Growth and Prosperity Program designates specific counties as Growth and Prosperity Program counties and provides income, franchise, sales and property tax incentives to companies that locate or expand in these areas of Mississippi. The program is designed to encourage development in economically challenged areas of the state.
Enterprises that create 10 or more jobs are eligible to participate in the Growth and Prosperity Program. Some of the jobs created to meet this requirement could be occupied by workers with disabilities.
Growth and Prosperity Program Overview PDF
Jobsite Accommodations
Jobsite accommodation is the process of modifying or rearranging job tasks (parts of a job) to accommodate an individual with a disability. The staff at Vocational Rehabilitation can assist with the accommodation process.
Jobs Tax Credit
Jobs tax credits are credits that can be applied to state income tax to reduce an employer’s income tax liability. These credits are earned by certain types of businesses that create and sustain new jobs in Mississippi. The following businesses qualify for these credits:
- Manufacturers
- Wholesalers
- Processors
- Research and Development Facilities
- Distributors
- Warehouses
Some of the jobs generated by this tax credit can go to employees with disabilities.
Manufacturing Investment Tax Credit
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 credit is calculated as 5 percent of the eligible project investment and is allowed for the year that the investment occurs. The tax credit allowed on any project cannot exceed $1,000,000.
Manufacturers can use this tax credit to invest in ADA compliant buildings or purchasing assistive technology enabling an employee with a disability to be more productive.
Manufacturing Investment Tax Credit Overview PDF
Mississippi Businesses Finance Corporation
The Mississippi Business Finance Corporation (MBFC) administers a variety of finance programs designed to assist businesses in locating or expanding in the state. Mississippi Businesses Finance Corporation works with other public entities and the private sector to coordinate efforts to stimulate both commercial and industrial development. The primary financing tool used is industrial revenue bonds.
Eligible uses of industrial revenue bond proceeds include construction, expansion, and improvements of:
- Machinery
- Equipment
- Real property
Part of the development brought about by Mississippi Businesses Finance Corporations can be jobs for people with disabilities. Also, Building construction/renovation or assistive technology acquisition for an employee with a disability are appropriate uses of industrial revenue bond proceeds.
Mississippi Data Center Incentives
Mississippi provides a state sales and use tax exemption for all computing equipment and software used by companies certified as data centers by the Mississippi Development Authority. To be eligible for this incentive, a business must locate or expand a data center in Mississippi that will store, manage, process or manipulate data. Businesses must invest at least $50 million and must create at least 50 new jobs paying 150 percent of the average state wage to qualify for this program.
Data Centers can use this tax exemption as an incentive to purchase specialized computer equipment and software that allows an employee with a disability to be more productive. Also, job creation for people with disabilities in data centers is an appropriate use of this incentive.
Sales and Use Tax Exemption PDF
Mississippi Department of Rehabilitation Services – Services for Employers
Mississippi Department of Rehabilitative Services is the largest state agency committed solely to helping people with disabilities achieve independence through employment. Services may include vocational evaluation, counseling and guidance, educational assistance, job training, job placement and assistive technology. At Mississippi Department of Rehabilitative Services, their staff is dedicated to meeting the employment goals of consumers.
Location Finder – use the search tool provided by this website to find vocational rehabilitation agencies and other disability related services in Mississippi.
Mississippi Health Care Industry Zone Incentive Program
The Mississippi Health Care Industry Zone Act aims to expand access to high-quality medical care for Mississippi residents and increase the number of health care jobs in the state. The legislation created a business incentive program, known as the Mississippi Health Care Industry Zone Incentive Program, to encourage health care-related businesses to locate or expand within a qualified Health Care Zone in the state.
To qualify for assistance through this program, health care-related businesses must commit to create at least 25 full-time jobs and/or invest $10 million.
Some of the jobs created as a result of this program could go to employees with disabilities who are qualified to work in the Health Care Industry.
National or Regional Headquarters Tax Credit
A sales and use tax exemption is available for eligible businesses that create their national or regional headquarters in Mississippi, transfer their headquarters to the state or grow their existing headquarters operations in the state. This exemption applies to purchases of component building materials used in the construction or improvement of a headquarters facility, as well as to the equipment used in the facility. A minimum of 20 new headquarters jobs must be created at the location in order for a business to qualify for this exemption.
Some of the jobs generated by this tax provision could be ones held by workers with disabilities.
National or Regional Headquarters Tax Credit Overview PDF
Sales and Use Tax Exemption Headquarters PDF
Sales and Use Tax Exemption for Construction or Expansion
A sales and use tax exemption is available for eligible businesses that construct a new facility or expand an existing facility in Mississippi. Eligible businesses include manufacturers and custom processors. Data and information processing companies and technology-intensive facilities also may qualify upon receiving a designation by the Mississippi Development Authority.
Mississippi businesses that construct an ADA compliant facility or expand on an existing workspace making it accessible to workers with disabilities are eligible for this tax exemption.
Sales and Use Tax Exemption for Construction or Expansion Overview PDF
T.K. Martin Center
The T.K. Martin Center provides comprehensive, multi-disciplinary evaluations to remove limitations through the application of assistive technology, allowing individuals to participate in educational, vocational and leisure activities to the fullest degree they choose. The comprehensive nature of the services offered ensures that the correct solutions are achieved efficiently and effectively.
Assistive technology is any device that enables a person with a disability to be more functional. Using the proper technology at work will allow a disabled person to be more productive, and in turn, a better worker.
