Rural Economic Development (RED) Credits

Mississippi Business Finance Corporation

Program Type:

Tax Incentive

Eligible Geography:

Mississippi

Summary:

Rural Economic Development (RED) Credits: RED Credits are credits that can be used by companies using
MBFC-issued industrial revenue bonds to reduce their Mississippi corporate income tax. These credits are
based on the amount of bond-related debt service paid on MBFC-issued industrial revenue bonds. Eligible
businesses may use RED credits to offset up to 80 percent of their state corporate income tax liability each
year for the life of the bonds. Unused credits may be carried forward for three years.

Eligible Recipients:

For-Profit Business; Non-Profit Organization; High Education Institution; Anchor Institution

Eligible Recipients Detail:

Qualified manufacturing facilities, non-profit 501(c)(3) facilities and solid waste disposal facilities. utilizing industrial revenue bonds

Eligible Purpose:

Last Mile Connectivity; Anchor Institution Connectivity; Building Connectivity; Broadband Enabled Devices (Education); Broadband Enables Devices (Healthcare); Broadband Enabled Devices (General)

Eligible Purpose Detail:

Businesses can receive tax credits and propety tax exemptions for participating in Industrial Bond Finanincg related to the following activities:

Acquisition, rehabilitation or construction and Acquisition of new equipment for: Educational Facilities; Healthcare Facilities; Charitable Organizations; Small Issue Manufacturing Facilities; Solid Waste Disposal Facilities.