Taxes

Corporate Income Tax

3% on 1st $5,000 of Taxable Income
4% on next $5,000 of Taxable Income
5% on Taxable Income over $10,000

Sales Tax

The State of Mississippi has a sales tax rate of 7%. Manufacturing machinery and equipment is taxed at a lower rate of 1.5%.

Property Tax

Each jurisdiction within Greater Hattiesburg has a different millage rate. One mill is equal to $1 per $1,000 of assessed value. Commercial property is assessed at 15% of true value. See attachment for list of millage rates.

Franchise Tax

The franchise tax in the State of Mississippi is assessed at $2.50 per $1,000 of Mississippi capital.

Inventory Tax

Inventory Tax is a local property tax charged on finished goods inventory at the same millage rate as other local rates. Qualifying companies can apply for an exemption in perpetuity and it is referred to as a Freeport Warehouse Exemption.