Mississippi Flexible Tax Incentive Act revises tax incentive calculation for economic development projects.
The Mississippi Flexible Tax Incentive Act amends the method of determining tax incentives for qualified economic development projects. It revises the calculation for the initial mFlex tax incentive, which is awarded based on factors such as the total purchase price of machinery and equipment, the number of new full-time jobs, and the average employer wage. The act specifies that the tax incentive is nontransferable and cannot be applied to other businesses or tax accounts without prior approval.
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