Economic Development Authority of Jones County
153 Base Drive, Suite 3 Laurel, MS 39440
P. O. Box 527, Laurel, MS 39441
(601) 649.3031 | FAX (601) 428.2047
Email: info@jonescounty.com | www.edajones.com
Financial Resources & Incentives
Local Incentives
Ad Valorem Tax Abatement
Real and personal property within Jones County is subject to a tax levy of 104.74 mills per $1,000 of assessed value. Assessed value is figured at 10% of the actual value of single-family owner occupied homes and at 15% of actual property value on all other real and personal property.
| Mills: | School Mills: | |
|---|---|---|
| Jones County | 50.97 | 53.77 |
| Laurel | 35.65 | 66.47 |
| Ellisville | 37.39 | 53.77 |
| Sandersville | 27.00 | 53.77 |
| Soso | No City Taxes, Taxes come from County | |
| Data Source: Jones County Tax Assessor's Office (2011) | ||
State Incentives
The Economic Development Autority (EDA) of Jones County works closely with the Mississippi Development Authority (MDA), Mississippi's lead economic development entity. The MDA Financial Resources Division offers a variety of incentive programs designed to assist businesses in obtaining loans for development and expansion and to position the state as an aggressive competitor in the global market. MDA's website offers links to a broad range of grant and loan programs specifically designed for business customers, as well as tax incentives that can really make a difference in your future success.
For specific Finance and Tax information see the Library section of MDA's website. www.mississippi.org - Finance & Tax Information
Other Taxation Conciderations
| Corporate Income Tax/Franchise Tax [1] | State | Local |
|---|---|---|
| Rate (range) | 3% to 5% | |
| Formula (e.g. Sales, Property & Payroll) | Property, Payroll, Sales | |
| Federal Taxes Deductable | No | |
| Accelerated Depreciation Permitted (Yes or No) | Yes | |
|
[1] stirrell: Mississippi State Tax Commission |
||
| Personal Income Tax [1] | State | Local |
|---|---|---|
| Rate (Range) | ||
| Earned Income | 3% to 5% | |
| Unearned Income (e.g. Dividend) | 3% to 5% | |
|
[1] stirrell: Mississippi State Tax Commission |
||
| Machinery & Equipment Subject to Sales/Use Tax | |
|---|---|
| Production | 1.50% |
| Non-Production | 7% |
| Pollution Control | Exempt |
| Office Furniture/Fixtures/Equipment | 7% |
| Sales/Use Tax (Yes or No) on | |
| Office Building Construction Materials | |
| Industrial Building Construction Materials | Yes |
| Manufacturers' Raw Materials | No |
| Standard Software | Yes |
| Custom Software | Yes |
| Sales/Use Tax Rate | |
|---|---|
| State | 7% |
| Local | |
| Total | 7% |
| Sales Tax Rate by Utility: | |
| Electric Power | 7%, 1.5% or Exempt |
| Natural Gas | 7%, 1.5% or Exempt |
| Fuel Oil | 7%, 1.5% or Exempt |
| Water | 7% or Exempt |
| Sewer | Not taxable if billed separately |
| Hazardous Waste Disposal | Not taxable if billed separately |
| Subject to Personal Property Tax | |
|---|---|
| Production Machinery & Equipment | YES |
| Non Production Machinery & Equipment | YES |
| Pollution Control | YES |
| Inventory | |
| Raw Materials | YES |
| Work in Progress | YES |
| Finished Goods | YES |
| Freeport Legislation | |
| Applicable to Warehousing | YES |
| Applicable to Manufacturing | YES |
| Goods Stored in a Public Warehouse | YES |
| Office Furniture-Fixtures | |
| Computer Equipment | YES |
| Workstations | YES |
| Telephones | YES |
| Furniture | YES |
| Company Vehicles | YES |
| Standard Software | NO |
| Custom Software | NO |
|
Information retreived from Southern Mississippi Planning and Development website. Accessed October 6, 2011. http://www.smpdd.com/data-center/iedc-data-sets/jones-county-iedc.html |
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P.O. BOX 527 LAUREL, MS 39441 USA | (601)649.3031 FAX (601)428.2047 | COPYRIGHT © 2013 ECONOMIC DEVELOPMENT AUTHORITY OF JONES COUNTY
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