What tax credits are available in Mississippi?
Asked 6 months ago
There are several tax credits available in Mississippi to help individuals and businesses reduce their tax liabilities. The popular tax credits include the Earned Income Tax Credit (EITC), which benefits low-income individuals and families, and the Child and Dependent Care Credit, which offsets expenses related to child or dependent care. Mississippi also offers tax credits for homebuyers, such as the Mortgage Interest Credit and the Mortgage Credit Certificate, providing incentives for homeownership. Businesses can take advantage of credits like the Small Business Investment Credit, Exempt Facility Bonds Credit, and Jobs Tax Credit, encouraging economic growth and job creation. Additionally, Mississippi offers tax credits related to energy efficiency, historic preservation, and agriculture. These tax credits play a vital role in supporting individuals, families, and businesses in their financial planning strategies.
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