Mississippi Administrative Code
Title 6 - Economic Development
Part 9 - Economic Development Division
Chapter 3 - Mississippi Flexible Tax Incentive Program - mFLEX
Rule 6-9-3.8 - Calculation of mFLEX Credits

MDA will calculate the initial credit amount based on the following formula:

* Reported Capitalized Manufacturing Equipment Expenditures multiplied by 1.5%

+

* Reported Capitalized Non-Manufacturing Equipment, Furniture, and Fixtures multiplied by 7%

+

* Total construction contract(s) multiplied by 2%

+

* Wages multiplied by number of jobs multiplied by 15%

This calculation results in the base mFLEX credit. If the applicant creates 25 jobs and pays an average annual salary of 125% of the average state or county wage (or is a manufacturer, invests $20,000,000 and creates a minimum of 50 jobs), the credit is increased by the following premium for high paying jobs:

Payroll multiplied by number of jobs multiplied by 30% In the event that the applicant elects to utilize industrial revenue bonds issued by the Mississippi Business Finance Corporation, the calculation will be limited as follows:

Payroll multiplied by number of jobs multiplied by 15%

This calculation results in the IRB (Industrial Revenue Bond) base mFLEX credit If the applicant creates 25 jobs and pays an average annual salary of 125% of the average state or county wage (or is a manufacturer, invests $20,000,000 and creates a minimum of 50 jobs), the credit is increased by the following premium for high paying jobs:

Payroll multiplied by number of jobs multiplied by 30%

Miss. Code Ann. § 57-114-1 et seq.