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Mississippi
Corporate Income Tax Rate at a Glance
Mississippi's top corporate income tax rate is 4.7%, applied as graduated brackets. This places Mississippi in the "Low (under 5%)" tier among U.S. states.
Rate Structure (Flat vs. Graduated)
Graduated brackets: 0% on first $5,000; 4.0% on $5,001-$10,000; 4.7% on income over $10,000 (rate reduced from 5.0% under 2022 reform). Schedule continues to phase down further in subsequent years.
Franchise Tax / Annual Privilege Tax
Mississippi imposes a Franchise Tax of $2.25 per $1,000 of capital employed in Mississippi for tax years through 2027, with phase-down to $0 by 2028 under HB 1668 (2018). Minimum $25.
S-Corp & Pass-Through Treatment
Mississippi recognizes federal S-corp election. Pass-through entities may elect to pay tax at the entity level under Mississippi's PTE election (HB 1668, 2022).
Official State Revenue Department
For current corporate tax rules in Mississippi, consult the state's official source at https://www.dor.ms.gov/business/corporate-income-and-franchise-tax. Rates and rules change annually — verify with a qualified tax professional before taking any action.
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Corporate income tax rates change frequently as states enact reform packages and phase-down schedules. Always verify current rates with the state's department of revenue and your tax advisor before making business decisions. This information is for educational purposes only and is not tax or legal advice.