Mississippi Administrative Code
Title 35 - Department of Revenue
Part 10 - Economic Development
Chapter 05 - Rural Economic Development (Red) Credit
Section 35-10-05-103

This credit has been amended several times and the credit carry forward periods will vary. Currently, excess credits may be carried forward to the three (3) succeeding years following the year in which the credit was earned. The credit is limited to eighty percent (80%) of the income tax due on income generated by the economic development project that gave rise to the credit. This income is determined by a formula adopted by the Mississippi Business Finance Corporation. It may be used in combination with any of the other credits.