Mississippi R&D Tax Credit Summary

MISSISSIPPI R&D TAX CREDIT SUMMARY

Mississippi State R&D Tax Credits

Mississippi provides an income tax credit for new jobs requiring research and development skills. Additionally, the state provides a rebate for investors’ qualified research costs.

Mississippi State R&D Skills Tax Credit

  • Research and Development Skills Tax Credits are credits equal to $1,000 per employee per year for a five year period and can be used to reduce an eligible entity’s income tax liability
  • These credits are available for any position requiring research or development skills
  • There is no minimum number of positions that must be created to qualify for this credit

Refundable/Transferable Tax Credit – No

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    Academic Research Investor Rebate

    • Investors incurring qualified research costs subject to a research agreement are eligible for a rebate equal to 25% of the investors qualified research costs up to a maximum rebate of $1 million per investor per fiscal year and a maximum rebate amount of $5 million for all investors per fiscal year

    How to Obtain the Credit?

    To obtain this rebate, investors must submit an application to the Board of Trustees of State Institutions of Higher Learning in Mississippi (IHL).
    Refundable/Transferable Tax Credit – No

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