Mississippi Historic Property Rehabilitation Credit Extended


An extension from 2014 to December 31, 2017 has been approved for businesses pursuing the historic property rehabilitation and income tax credits. Business now have until December 31, 2017 to either have a certificate issued evidencing an eligible historic property rehabilitation credit or receive a determination in writing that Mississippi Department of Archives and History that the rehabilitation is inconsistent with the historic character of the property and that the property meets the U.S. Secretary of the Interior’s standards for rehabilitation.

Additionally, effective January 1, 2014, the costs paid by a motion picture production company for employee benefits that are not subject to state income tax can now be included in the calculation of rebates under the Mississippi Motion Picture Incentive Act. “Fringes” may include, but are not limited to, payments by an employer for unemployment insurance, Federal Insurance Contribution Act (FICA), worker’s compensation insurance, pension and welfare benefits and health insurance premiums.

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