WORKFORCE TRAINING

Eligible employers in Mississippi who create a designated number of full-time jobs are eligible for a five-year jobs tax credit, the amount of which will vary depending upon the location of the facility. The State's 82 counties are divided into three categories: Less Developed, Moderately Developed, and Developed. Oktibbeha County is classified as "Developed", and eligible businesses can receive $500 credit annually per new job if 20 or more jobs are created. Eligible businesses include manufacturers, processors, distributors, wholesalers, warehousers, research and development facilities, air transportation and maintenance facilities, final destination or resort hotels having a minimum of 150 rooms, and movie industry studios. This credit provides a five-year tax credit to the company's state income tax bill for each new job created by a new or expanding business, effective for years two through six after the creation of the job.



NATIONAL OR REGIONAL HEADQUARTERS JOBS CREDIT

Out-of-state business transferring national or regional headquarters to Mississippi, or in-state companies which establish national or regional headquarters in the State, thereby creating a minimum of 35 full-time jobs, are eligible for this tax credit for each new job they create. This program offers a five-year tax credit of $500 per year for each net new job created by the transfer of a national or regional headquarters to Mississippi, provided that at least 35 full-time jobs are created which are in support of the national or regional headquarters. The credit is effective for years two through six after the creation of the job.




RESEARCH & DEVELOPMENT JOBS CREDIT

A $500 tax credit is offered for each new employee in any job requiring research and development skills. This offer provides the five -year tax credit per year for each net new R&D job created by new or expanding businesses, effective for years two through six after the creation of the job. There is no minimum number of R&D jobs required to be eligible for this credit. To qualify for this credit, a business must first meet Mississippi State Tax Commission regulations defining the eligible R&D jobs.




BASIC SKILLS TRAINING TAX CREDIT

The income tax credit offered is 25% of qualified expenses to a manufacturer which participates in an employer-sponsored retraining program through a community/junior college in the district within which the employer is located. This program provides a tax credit to new or existing businesses that pay for certain basic skills training or retraining for their employees. Credit is equal to 25% of qualified expenses of the training. Training programs must be certified by the State Department of Education to qualify the business for this credit.




CHILD CARE INCOME TAX CREDIT

The income tax credit offered is 25% of qualified expenses to any employer providing child care for its employees during the employee's working hours. The facility must have an average daily enrollment for the taxable year of no less than six children age twelve or less and be licensed according to the regulations governing licensure of child care facilities in Mississippi. Employers will be certified as eligible for the tax credit by the Mississippi Department of Health and the State Tax Commission. This program provides a tax credit to new or existing businesses.




JOBS TAX CREDIT

NATIONAL OR REGIONAL HEADQUARTERS JOBS CREDIT

RESEARCH & DEVELOPMENT JOBS CREDIT

BASIC SKILLS TRAINING TAX CREDIT

CHILD CARE INCOME TAX CREDIT

*These credits can be used in any combination, but the total combination can not exceed 50% of the taxpayer's income tax liability for that year. Any excess credit will not be refunded, but can be carried forward for five successive years.