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Mississippi New Jobs Credit
Extracted from PDF file 2023-mississippi-form-83-450.pdf, last modified November 2023New Jobs Credit
Reset Form Form 83-450-23-8-1-000 (Rev. 11/23) Print Form Mississippi FEIN Page 1 New Jobs Credit Facility Location: Name: County 1 List the number of full time employees subject to Mississippi withholding at this facility at the end of each month. Month Base Year 1 2 3 4 5 6 7 8 9 10 11 12 2 Total employees 3 Number of months in operation 4 Average of fulltime employees 5 Less prior year average 6 Average increase in full-time employees (enter also on page 2, line 7) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Form 83-450-23-8-2-000 (Rev. 11/23) Mississippi FEIN Page 2 New Jobs Credit Computation of eligible credit 7 Average increase in full-time employees (from page 1, line 6) 8 Year 1 increase (line 7) 9 Year 2 increase (line 7) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 10 Year 3 increase (line 7) 11 Year 4 increase (line 7) 12 Year 5 increase (line 7) 13 Year 6 increase (line 7) 14 Year 7 increase (line 7) 15 Year 8 increase (line 7) 16 Year 9 increase (line 7) 17 Number of new jobs eligible for credit (add Lines 8 through 16) 18 Amount of payroll for new jobs (from line 17) 19 Percentage of payroll for new jobs in county tier 20 Eligible credit for percentage of payroll (multiply line 18 by line 19) A current year decrease in employment (Line 7) will reduce Number of New Jobs Eligible for Credit (Line 17) for the current year. This is in contrast to an increase of employment in which the increase is delayed a year. A qualifying level of increase of employment must be in a single reporting period. An employer may not combine two or more periods of increases in employment to qualify for a certain level of employment. A period is assumed to be a full fiscal or calender year. For additional information, see Title 35, Part X, Chapter 01 of the Mississippi Administrative Code for Limitations. Attach a schedule listing new full-time jobs created (title, date created and payroll amount for each year). Attach this form, and the Income Tax Credit Summary (Form 83-401), to your return.
83450238.pdf
More about the Mississippi Form 83-450 Corporate Income Tax Tax Credit TY 2023
We last updated the New Jobs Credit in February 2024, so this is the latest version of Form 83-450, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 83-450 directly from TaxFormFinder. You can print other Mississippi tax forms here.
Other Mississippi Corporate Income Tax Forms:
TaxFormFinder has an additional 36 Mississippi income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 81-110 | Fiduciary Return |
| Form 83-100 | Corporate Income Instructions |
| Form 84-401 | Tax Credit Summary Schedule |
| Form 84-132 | Schedule K-1 (Pass Through) |
| Form 83-105 | Corporate Income and Franchise Tax Return |
View all 37 Mississippi Income Tax Forms
Form Sources:
Mississippi usually releases forms for the current tax year between January and April. We last updated Mississippi Form 83-450 from the Department of Revenue in February 2024.
Form 83-450 is a Mississippi Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Mississippi Form 83-450
We have a total of eleven past-year versions of Form 83-450 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2016 Form 83-450
83450168.pdf
2015 Form 83-450
JetForm:83450101.IFD
2014 Form 83-450
JetForm:83450101.IFD
2012 Form 83-450
JetForm:83450101.IFD
2011 Form 83-450
JetForm:83450101.IFD
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