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Mississippi

Mississippi

Incentives/Policies for Renewables & Efficiency

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Mississippi Clean Energy Initiative   

Last DSIRE Review: 08/06/2014
Program Overview:
State: Mississippi
Incentive Type: Industry Recruitment/Support
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Thermal Electric, Photovoltaics, Wind, Biomass, Hydroelectric
Applicable Sectors: Commercial, Industrial
Amount:100% exemption from income, franchise, and sales & use tax for 10 years
Terms:Manufacturers must have a minimum investment of $50 million and create 50 new jobs
Start Date:07/01/2010
Web Site: http://www.mississippi.org/index.php?id=924
Authority 1:
Date Enacted:
Date Effective:
Miss. Code ยง 57-113
04/16/2010
07/01/2010
Summary:

In April 2010, the Mississippi Legislature enacted HB 1701, establishing the Mississippi Clean Energy Initiative. This program provides an incentive for companies that manufacture systems or components used to generate renewable energy, including biomass, solar, wind and hydro generation. Alternative energy manufacturers, including manufacturers of components used in nuclear power plants, are also eligible for this incentive. This program allows the Mississippi Development Authority (MDA) to certify these manufacturers for a tax exemption.

Eligible manufacturers are offered a 10-year exemption from state income and franchise taxes as well as a sales and use tax exemption to establish a plant or expand an existing production facility. To qualify, a business entity must have a minimum investment of $50 million and create 250 full-time jobs.

Upon issuance of the certification, the entity shall be exempt from state taxes for a period of 10 years subject to certain performance requirements set out in the agreement. The entity must enter into an agreement with the MDA detailing the performance requirements of the approved business enterprise during the term of the exemption and provisions for recapture of all or a portion of the taxes exempted if the performance requirements are not met. Upon certifying an entity as eligible for the exemptions, the MDA will pass the information to the Department of Revenue so that the exemptions can be implemented.


 
Contact:
  Griff Salmon
Mississippi Development Authority
Global Business Division
P.O. Box 849
Jackson, MS 39205
Phone: (601) 359-6647
E-Mail: gsalmon@mississippi.org
Web Site: http://www.mississippi.org
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.