Mississippi Administrative Code
Title 6 - Economic Development
Part 9 - Economic Development Division
Chapter 3 - Mississippi Flexible Tax Incentive Program - mFLEX
Rule 6-9-3.7 - Project Certification

U. The obligation of the industry to provide an annual report that includes actual investment, job creation, and payroll in a manner prescribed by the MDA.

V. The obligation to update estimated investment and job creation for the remainder of the project.

W. The obligation of the industry to provide health insurance coverage funded at least fifty percent (50%) by the certified business.

X. The obligation to provide a summary of the tax credits taken for the reporting year by the applicant as well as the credits taken by each identified affiliate.

Y. Acknowledgement that if the applicant is awarded an mFLEX certification, specific statutory tax incentives will not be available to the applicant.

Z. Acknowledgement that the certified credit amount will be adjusted annually based on actual investment and job creation, as well as updated estimates for the project.

AA. Acknowledgement that failure to comply with required reporting may result in the suspension or revocation of all or a portion of the mFLEX credits awarded.

BB. Acknowledgement that in the event that credits that have been taken and are later reduced through recalculation based on company reporting or revocation due to failure to file the annual report will be recaptured by the Department of Revenue as a tax liability.

Once the applicant signs and returns the agreement, a certification will be issued that documents the mFLEX credit available to the applicant. A copy of the certification will also be provided to the Department of Revenue for administrative oversight.