There are three ways to incorporate your business in Mississippi:
- Hire a lawyer to do the job for you (the most expensive option)
- Walk in to the Secretary of State office and do it by yourself
- Use a professional incorporation company, like Active Filings.
Mississippi Articles of Incorporation Requirements
The Articles of Incorporation is the formation document you file with the Mississippi Secretary of State to register your corporation with the state (LLCs file Articles of Organization). In Mississippi, you can file Articles of Incorporation online only (it will take the SOS 24 hours to process your filing). If you hire Active Filings to incorporate your business, we are authorized to file online with the state, and we’ll form your LLC or corporation in 1 business day.
To complete your Mississippi Articles of Incorporation, you’ll need to include the following information:
|Company Name||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.|
|Company Purpose||List the reason for forming the corporation or the business/activity which the corporation will engage in.|
|Authorized Shares||List the number of shares of corporate stock you are currently authorizing. Technically, this is when you “create” your stock (more can always be authorized later), and that stock will be issued to your shareholders at your first shareholder meeting.|
|Registered Agent Information||In Mississippi, a registered agent (also known as a resident agent) is an individual or business that serves as your company’s official point of contact for lawsuits and legal notices. As part of Active Filings’ incorporation service, we include a year of registered agent service when you hire us to incorporate your business in Mississippi.|
|Names and Addresses of the Incorporators||The incorporator is the person or company authorized to form the corporation. For example, if you hired us, we would list ourselves as the incorporator. The incorporator does not have any stake in or claim to the corporation being formed.|
|Minimum Number||One or more|
|Residence Requirements||No provision|
|Articles of Incorporation||Directors are not required to be listed|
|Articles of Incorporation||Officers are not required to be listed|
An increase in shares or par value does not effect initial fees
- 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
Tax is based on taxable income allocated to Mississippi at 3% of first $5,000; 4% on next $5,000; 5% over $10,000.
Franchise Tax Rate
Every domestic corporation and every foreign corporation doing business in Mississippi must pay a franchise tax.
Basis and Rate
$2.50 per $1000 or fraction of the value of the capital used, invested or employed in Mississippi. Minimum tax, $25. Based on the corporation’s capital at close of its year preceding the filing of the return. Capital includes issued and outstanding capital stock, paid-in capital, surplus, retained earnings, and all true reserves as well as amounts designated for payment of dividends unless irrevocably placed to the credit of stockholders, excluded are debts, bonds, mortgages, and reserves for bad debts, depreciation or valuation.
Allocation and Apportionment
Corporations doing business both in and outside Mississippi determine the capital employed in Mississippi by multiplying the year-end total capital by the local-to-local ratio represented by (1) real and tangible personal property in Mississippi plus gross receipts from business in Mississippi (numerator) divided by (2) total of such property plus total of such receipts everywhere (denominator).
An organization using a formula method of apportionment determines its gross receipts from business carried on in Mississippi by applying to total unitary receipts the ratio achieved (or which would be achieved) by such formula and adding to the result of such application any nonunitary Mississippi receipts.
Effective for tax years after 1998, the gross receipts of a corporation using a formula method of apportionment will also include any receipts from the taxpayer’s operations which are not apportioned but rather are directly allocated (or assigned) to Mississippi. If the taxpayer is required to use a formula method of apportionment in making income tax returns that does not have a receipts or sales factor, then the receipts factor for the franchise tax formula will be determined by regulation of the State Tax Commission.
Return and Payment
Pay to State Tax Commission, by 15th day of 3d month following close of annual accounting year. The Commission may require the payment of any tax liability of $20,000 or more in funds that are immediately available to the state on the date the payment is due.
Payments of estimated taxes are due on the 15th day of the 4th month of the income tax year together with the declaration or in four equal installments, due on or before the 15th day of the 4th, 6th, 9th, and 12th months of the tax year.
* Annual Report
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 http://www.dor.ms.gov/Pages/default.aspx
When you hire Active Filings to incorporate your business in Mississippi, you’ll receive everything you need to track and maintain your company, this includes:
- Free expedited service
- One year of registered agent service
- An online account where you can add additional services, track orders, maintenance requirements and digital notifications.
Learn More About Incorporation Requirements In Your State
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia