Information on the 50 States and the District of columbia

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Incorporating in Mississippi

Corporate Name Requirements

* The name must contain word “corporation”, “company”, “incorporated”, or limited” or the abbreviation corp., co., inc., ltd., or words or abbreviations of like import in another language. The name may not contain language implying the corporation is organized for any unauthorized purpose. The name must be distinguishable from that of domestic or foreign corporations entitled to do business in state, or to reserved or registered name.

Articles of Incorporation Requirements

Director Information

  • Minimum Number – One or more.
  • Residence Requirements. – No provision.
  • Age Requirements – None.
  • Directors are not required to be listed in the articles of incorporation.

Officer Information

  • The officers are not required to be listed in the articles of incorporation.

Stock Information

  • An increase in shares or par value does not effect initial fees.

Yearly Requirements

Annual Statements

  • Annual reports are due within 60 days of each anniversary date of incorporation with respect to a domestic corporation, and within 60 days of authorization to transact business in Mississippi with respect to a foreign corporation. A $25 fee must accompany the annual report.

Income Tax Rate

  • Mississippi has a graduated income tax rate and is computed as follows:

    0% on the first $1,000 of taxable income.

    3% on the next $4,000 of taxable income.

    4% on the next $5,000 of taxable income .

    5% on all taxable income over $10,000.

Franchise Tax Rate

  • Franchise tax is computed at $2.50 per $1,000 of the value of the capital employed or the assessed property values in this state, whichever is greater. In no case shall the franchise tax computed be less than $25. ​

Annual Report

  • Liability.
    Every domestic corporation and every foreign corporation authorized to do business in Mississippi must file an annual report with the Secretary of State. Annual reports are due within 60 days of each anniversary date of incorporation with respect to a domestic corporation, and within 60 days of authorization to transact business in Mississippi with respect to a foreign corporation. A $25 fee must accompany the annual report.

For more information on taxes, visit Mississippi Department of Revenue

 

C-Corporation

  • Shareholders have limited liability protection
  • May be listed and traded as a publiccorporation on the stock market or “over the counter”
  • Has a separate and independent tax status from its owners
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S Corporation

  • Profits are not subject to “double taxation”
  • Corporate losses may be “passed through” to share holders
  • Shareholders are afforded the same protection as C Corp.
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LLC formation

  • Contains characteristics of both corporation and partnership
  • Shareholders may take advantage of “Pass-Through” taxation
  • Limited liability for share holders
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Not for profit corp

  • Eligible for tax-exempt status
  • Limited Liability protection
  • Qualify for public and private gains
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