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
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 in obtaining loans for development and expansion. MDA’s website offers links to a broad range of grant and loan opportunities.
www.mississippi.org – Finance & Tax Information
Other Taxation considerations
Corporate Income Tax/Franchise Tax [1] |
State |
Local |
|---|---|---|
Rate (range) |
3% to 5% |
|
Formula (e.g. Sales, Property & Payroll) |
Property, Payroll, Sales |
|
Federal Taxes deductible |
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 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 retrieved 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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