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 the entity’s 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 investment credit is calculated as 5% of the eligible investment for a project. 

PROGRAM FACTS

Income tax credits for existing manufacturers that have operated in Mississippi for at least two years are available if an existing manufacturer invests at least $1,000,000 in additional buildings and/or equipment.

The credit is calculated as 5% 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.

Credits can be used to offset up to fifty percent of the entity’s income tax liability after all other credits have been taken, and unused investment tax credits can be carried forward up to five years.

Manufacturing Investment Tax Credits are awarded and administered by the Mississippi Department of Revenue.

For further details, see the Mississippi Tax Incentives, Exemptions, and Credits on the Mississippi Department of Revenue website https://www.dor.ms.gov/docs/2013IncentiveBook-pdffinal.pdf PDF icon, or Section 27-7-22.30, Ms Code 1972, Annotated.