After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Mississippi corporations.
Mississippi corporations must keep the following items with their corporate records at the principal office:
- The Articles of Incorporation and any amendments
- Minutes of director and shareholder meetings
- A list of names and business addresses of current directors and officers
- Most recent annual report
- Any agreements between shareholders
Corporate taxes and fees
The following are taxation requirements and ongoing fees for Mississippi corporations:
- Annual report and franchise tax. Mississippi requires corporations to file an annual report between
January 1 and April 15 each year. The filing fee is $22 with a $1.25
electronic filing fee. Mississippi also has an Annual Corporate Income and Franchise Tax Report, which is due on or before the 15th day of the third month following the close of the accounting year. The amount due is calculated based on the value of the capital employed in Mississippi, with a minimum tax of $25.
- Taxes. For complete details on state taxes for Mississippi corporations, visit Business Owner's Toolkit or the State of Mississippi.
- Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
- State tax identification number. Mississippi does not require a state tax identification number.
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
S corporation election
Mississippi recognizes the federal S corporation election and does not require a state-level S corporation election.
Additional Mississippi information
View the following additional resources BizFilings has for forming and maintaining companies in Mississippi:
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