MCA Chapter 113

in effect

Miss. Code Ann. § 57-113-1 Definitions.

As used in this article: “Business enterprise” means: Any enterprise owning or operating a facility for the manufacture or assembly of systems or components used in the generation of clean energy that locates or expands in this state which will have a minimum capital investment in this state of Fifty Million Dollars ($50,000,000.00) and will create a minimum of two hundred fifty (250) new, full-time jobs. Any enterprise owning or operating a facility that manufactures, assembles or processes products, components or systems for the aerospace industry or provides research and development or training services in the aerospace industry that locates or expands in this state, which will have a minimum capital investment in this state of Twenty-five Million Dollars ($25,000,000.00) in land, building and equipment and will create a minimum of twenty-five (25) new, full-time jobs which provide an average annual salary, excluding benefits which are not subject to Mississippi income taxes, of at least one hundred ten percent (110%) of the most recently published state average annual wage or the most recently published average annual wage of the county in which the qualified business or industry is located as determined by the Mississippi Department of Employment Security, whichever is less. “Aerospace industry” means the industry that researches, designs, manufactures, repairs, operates and/or maintains products, components and systems which enable vehicles to move through the air and space. “Biomass” means and includes any of the following: Forest-related mill residues, pulping by-product and other by-products of wood processing, thinnings, slash, limbs, bark, brush and other cellulosic plant material or nonmerchantable forest-related products; Solid wood waste materials, including dunnage, manufacturing and construction wood wastes, demolition and storm debris and landscape or right-of-way trimmings; Agriculture wastes, including orchard tree crops, vineyard, grain, legumes, sugar and other crop by-products or residues and livestock waste nutrients; All plant and grass material that is grown exclusively as a fuel for the production of electricity; Refuse derived fuels consisting of organic components and fibers of waste water treatment solids; or Whole trees. “Clean energy” means energy that is generated from either: A renewable energy source such as wind, water, biomass or solar; or An alternative energy source such as nuclear. “MDA” means the Mississippi Development Authority. “State tax” means: Any sales or use tax imposed on the business enterprise pursuant to law related to the purchase of component building materials and equipment for initial construction of facilities or expansion of facilities that are certified by the Mississippi Development Authority; All income tax imposed pursuant to law on income earned by the business enterprise certified by the Mississippi Development Authority; Franchise tax imposed pursuant to law on the value of capital used, invested or employed by the business enterprise certified by the Mississippi Development Authority; and Any sales or use tax imposed on the lease of machinery and equipment acquired in the initial construction to establish the facility or for an expansion certified by the Mississippi Development Authority.

Miss. Code Ann. § 57-113-3 Application for tax exemptions.

Business enterprises wishing to apply for the tax exemptions authorized by this article shall make application to the MDA prior to construction or acquisition of the buildings for the location or expansion of the business enterprise in this state. The application shall, at a minimum, contain: An overview of the project that includes the selected site, the number of jobs proposed, the length of time necessary for the company to meet its investment and employment requirements; A two-year business plan, which shall include pro forma financial statements for the project; Data supporting the expertise of the project’s principals; An acknowledgment that the business entity will be required to provide annual documentation to demonstrate that the minimum job requirement is being maintained; and Such information as may be requested by the MDA.

Miss. Code Ann. § 57-113-5 Certification of eligibility for tax exemption; term of exemption; nontransferability of exemption; performance requirements of approved business enterprise.

Upon approval of the application, the MDA shall issue certification designating the business enterprise as eligible for the tax exemptions authorized by this article. This certification shall document the date by which all commitments must be met. Upon the issuance of the certification, the business enterprise shall be exempt from state taxes for a period of ten (10) years subject to the performance requirements set out in the agreement required by subsection (3)(c) of this section. If the business enterprise is located in an area that has been declared by the Governor to be a disaster area and as a direct result of the disaster the business enterprise is unable to utilize the exemption from state taxes, the MDA may extend the period of time by which the minimum requirements must be met and duration of the exemption from state taxes for not more than two (2) years. Any business enterprise that has property or equipment purchased utilizing the state tax exemption that is damaged or destroyed as a result of the disaster may purchase replacement equipment and component building materials exempt from sales and use tax. The following conditions, along with any other conditions the MDA shall promulgate from time to time by rule or regulation, shall apply to such exemptions: Any exemption provided under this article is nontransferable and cannot be applied, used or assigned to any other person or business or tax account without prior approval by the MDA; No approved business enterprise may claim or use the exemption granted under this article unless that enterprise is in full compliance with all state and local tax laws, and related ordinances and resolutions; and The business enterprise must enter into an agreement with the MDA which sets out, at a minimum, the performance requirements of the approved business enterprise during the term of the exemption and provisions for the recapture of all or a portion of the taxes exempted if the performance requirements of the business enterprise are not met. Upon certifying a business enterprise as eligible for the exemptions under this article, the MDA shall forward the certification along with any other necessary information to the Department of Revenue so that the exemptions can be implemented. The Department of Revenue shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation of the state tax exemptions granted under this article.

Miss. Code Ann. § 57-113-7 Promulgation of rules and regulations.

The MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation and administration of this article.

Miss. Code Ann. § 57-113-21 Definitions.

As used in this article: “Business enterprise” means any business enterprise owning or operating a data center with a minimum capital investment in this state of Twenty Million Dollars ($20,000,000.00) which will create a minimum of twenty (20) new, full-time jobs with a minimum average annual salary of not less than one hundred twenty-five percent (125%) of the average annual state wage. “Data center” means a business enterprise that utilizes hardware, software, technology, infrastructure and/or workforce, to store, manage or manipulate digital data. “MDA” means the Mississippi Development Authority. “State tax” means: Any sales and use tax imposed on the business enterprise pursuant to law related to the purchase or lease of component building materials and equipment for initial construction of facilities or expansion of facilities that are certified by the Mississippi Development Authority; Any sales and use tax imposed by law on the business enterprise pursuant to law related to the purchase of replacement hardware, software or other necessary technology to operate a data center; All income tax imposed pursuant to law on income earned by the business enterprise certified by the Mississippi Development Authority; and Franchise tax imposed pursuant to law on the value of capital used, invested or employed by the business enterprise certified by the Mississippi Development Authority.

Miss. Code Ann. § 57-113-23 Application for tax exemptions.

Business enterprises wishing to apply for the tax exemptions authorized by this article shall make application to the MDA prior to construction or acquisition of the buildings for the location or expansion of the business enterprise in this state. The application, at a minimum, shall contain: An overview of the project that includes the selected site, the number of jobs proposed, the length of time necessary for the company to meet its investment and employment requirements; A two-year business plan, which shall include pro forma financial statements for the project and any service contracts to be performed at the Mississippi facility; Data supporting the expertise of the project’s principals; An acknowledgment that the business entity will be required to provide annual documentation to demonstrate that the minimum job requirement is being maintained; and Such information as may be requested by the MDA.

Miss. Code Ann. § 57-113-25 Certification of eligibility for tax exemption; term of exemption; nontransferability of exemption; performance requirements of approved business enterprise.

Upon approval of the application, the MDA shall issue a certification designating the business enterprise as eligible for the tax exemptions authorized by this article. This certification shall document the date by which all commitments must be met. Upon the issuance of the certification, the business enterprise shall be exempt from state taxes for a period of ten (10) years subject to the performance requirements set out in the agreement required by subsection (3)(c) of this section. The following conditions, along with any other conditions the MDA shall promulgate from time to time by rule or regulation, shall apply to such exemptions: Any exemption provided under this article is nontransferable and cannot be applied, used or assigned to any other person or business or tax account without prior approval by the MDA; No approved business enterprise may claim or use the exemption granted under this article unless that enterprise is in full compliance with all state and local tax laws, and related ordinances and resolutions; and The business enterprise must enter into an agreement with the MDA which sets out, at a minimum, the performance requirements of the approved business enterprise during the term of the exemption and provisions for the recapture of all or a portion of the taxes exempted if the performance requirements of the business enterprise are not met. Upon certifying a business enterprise as eligible for the exemptions under this article, the MDA shall forward the certification along with any other necessary information to the Department of Revenue so that the exemptions can be implemented. The Department of Revenue shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation of the state tax exemptions granted under this article.

Miss. Code Ann. § 57-113-27 Promulgation of rules and regulations.

The MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation and administration of this article.