Taxation in Mississippi

Updated on Thursday 27th September 2018

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Entrepreneurs from abroad looking to incorporate a company in USA should seek for professional advice in matters of taxation. In Mississippi, companies can be subject to a corporate and a franchise tax, depending on the type of their business structure. In order to ease the registration procedure of a firm, we suggest you to address to our team of company formation specialists in USA and ask for support in this sense.

What is the corporate income tax rate in Mississippi?

C corporations in Mississippi are levied with a corporate income tax established in a series of marginal rates, with the mention that the minimum income threshold for the lowest tax rate is meant to change for the next five years. The following table shows how C corporations are levied with the corporate income tax:
Taxable Income Tax Rate
From 0$ to $5,000 3%
Between $5,000 and $10,000 4%
More than $10,000 5%

The taxation on personal income in Mississippi

It is good to know that the personal income registered in Mississippi is levied with the same tax brackets as imposed for corporations in this American state. We remind that our team of consultants can offer information about the types of structures available for business in Mississippi and about the taxation system. You can also check the general guide to company incorporation in Mississippi and find out how you can start a business in USA.

How is the franchise tax applied in Mississippi?

C and S corporations are subject to the franchise tax in Mississippi as follows:
  • $2.50 per $1,000 of the assessed value of properties of a company in Mississippi (if greater than the employed capital);
  • $2.50 per $1,000 of the employed capital in Mississippi  (if greater than the assessed property values).
In any case, the minimum franchise tax is set at 25$ for corporations in Mississippi. We are at your disposal with complete support and details in this sense.

Taxation for LLCs in Mississippi

Because the limited liability companies are seen as pass-through entities, the incomes are distributed individually and taxed in accordance. There is no corporate franchise tax and no income taxes for limited liability companies in Mississippi.
If you would like to know more about the taxes for companies in Mississippi and information about how you can open a company in USA, we invite you to get in touch with our team of company incorporation experts in USA.