POPULATION: 2,910,540
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES: Agriculture, chemicals, food processing, forest products, furniture, lumber & wood, shipbuilding
EXPANDING INDUSTRIES: Automotive, aerospace, communications & information technology, distribution centers, healthcare, plastics & polymers
COLLEGE GRADUATES: (Age 25 and over) 18.2%
BASIC BUSINESS TAXES:
Corporate Income Tax: 3 percent on first $5,000; 4 percent on next $5,000; 5 percent for income over $10,000 (exemptions)
Corporate Franchise Tax: $2.50 for each $1,000 of capital invested in the state
General Retail Sales Tax: 7 percent
Property Tax: No state tax; local rates vary on real and tangible personal property with assessment ratio for most property at 15 percent of true value
BUSINESS INCENTIVES:
Gulf Opportunity Zone Act
Momentum Mississippi Initiative:
- • Advantage Jobs Rebate Program
- • Existing Industry Protection Act
- • R&D and Technology-Based Business and Industry Loan
- • Development Infrastructure Program
- • Alternative Energy Project
Tax Credit
- • Existing Manufacturer Tax Credit
- • Technology Intensive Enterprise Sales Tax Reduction
- • Construction and Expansion Sales Tax Exemptions
- • Jobs Tax Credits
- • Rural Economic Development Tax Credits
Access Road Program
Airport Revitalization Program
Infrastructure Program
Port Revitalization Revolving
Loan Program
Agribusiness Enterprise Loan
Business Investment Act Program
Emerging Crop Program
Energy Investment Program
Guaranty Loan Program
Minority Business Enterprise Loan
Minority Surety Bond Guaranty Program
Small Business Assistance Program
Small Enterprise Development Finance Program
Telecommunications Act
Major Economic Impact Authority Act
Rural Economic Development Act
Economic Development Highway Act
Mississippi Investments Act
Free Port Warehouse Law
Railroad Revitalization Act
Foreign-Trade Zones
International Trade Offices
Growth and Prosperity Program