Mississippi and the R&D Tax Credit

Although Mississippi does not offer its own state-level R&D tax credit, it is home to a variety of industries that can still benefit significantly from the federal R&D tax credit. The state’s diverse sectors, such as aerospace, manufacturing, agriculture, and biotechnology, are all engaged in innovative processes and technologies that qualify for federal research and development incentives. Companies in these industries can leverage the federal R&D tax credit to offset some of their expenses related to research, product development, and technological advancements, thus driving growth and competitiveness in both local and global markets.