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Mississippi Code Title 57. Planning, Research and Development § 57-114-11

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) A qualified business or industry awarded any mFlex tax incentive by the authority for its qualified economic development project pursuant to Sections 1 through 10 of this act shall not be eligible for, nor shall it apply for or claim, any one or more of the following tax credits, exemptions or incentives for such qualified project:

(a) For any new full-time job, any state income tax credit authorized by Sections 27-7-22.17, 27-7-22.18, 27-7-22.19, 27-7-22.27, 27-7-22.29, 27-7-22.34, 27-7-22.36 and 57-73-21(2) through (5);

(b) For any new full-time job, any withholding tax rebate authorized by Sections 57-62-1 through 57-62-7 or Sections 57-100-1 through 57-100-9;

(c) Any exemption from state income tax authorized by Section 27-7-30, Sections 57-80-1 through 57-80-11, Sections 57-113-1 through 57-113-7, and Sections 57-113-21 through 57-113-27;

(d) Any state income tax credit authorized by Section 27-7-22.20 or Section 27-7-22.35;

(e) Any exemption from state sales or use tax authorized by Section 27-65-101(1)(q), (r), (v), (w), (x), (y), (cc), (dd), (ff), (gg), (hh), (kk), (ll), (mm), (nn), (qq), (uu), (vv), (2) or (3); Sections 57-80-1 through 57-80-11; Sections 57-113-1 through 57-113-7; and Sections 57-113-21 through 57-113-27;

(f) Any exemption from state franchise tax authorized by Section 27-13-5(4), Section 27-13-7(4), Sections 57-80-1 through 57-80-11, Sections 57-113-1 through 57-113-7, and Sections 57-113-21 through 57-113-27.

(2) Notwithstanding subsection (1) of this section, a qualified business or industry shall not be prohibited from applying for or receiving any of the tax credits, exemptions or incentives described in paragraphs (a) through (f) of subsection (1) of this section for any project or expansion which is not certified by the authority as a qualified economic development project and for which no mFlex tax incentive is awarded by the authority, notwithstanding the fact the qualified business or industry is awarded an mFlex tax incentive by the authority for a specific qualified economic development project undertaken thereby.

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Cite this article: FindLaw.com - Mississippi Code Title 57. Planning, Research and Development § 57-114-11 - last updated January 01, 2025 | https://codes.findlaw.com/ms/title-57-planning-research-and-development/ms-code-sect-57-114-11/

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