RESEARCH AND 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.