The Business Incentives Study Group was formed to examine the role of proposed and existing incentives, exemptions, and credits in encouraging businesses to locate, hire, expand, and invest in Mississippi. The Group was divided into small groups focusing on (1) College Private Research (2) Tax Credits, Exemptions, and Deductions, and (3) Internet Sales Tax Parity. The Groups provided input on four legislative proposals introduced in the Mississippi Legislature in 2013: (1) the Strengthening Mississippi Academic Research Through Business (“SMART Business”) Act; (2) an Employee Pass Through Option to the Jobs Tax Credit; (3) a Headquarters Relocation Credit; (4) an Expansion Relocation Credit.
The SMART Business Act was adopted by the Legislature and is effective as of July 1, 2013. Click here to view a copy of the legislation.