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contact usMississippi is smaller than most of the U.S. states, its name derives from a Native American word meaning "great waters" or "father of waters" and is bounded on the north by Tennessee, on the east by Alabama, on the south by Louisiana and the Gulf of Mexico, and on the west by Louisiana and Arkansas.
Mississippi is naturally well suited to agriculture; its soil is rich and deep, and its landscape is laced with many rivers. Mississippi is a low-lying state, its highest point reaching only about 800 feet (240 metres) above sea level.
Situated in the southwest US, Mississippi is the 32nd largest state in the country with an area that covers 48,430 square miles. This state has a very widely spread population with a density of just 63.2 people per square mile, which ranks 32nd in the country. People of white European ancestry-primarily British, Irish, or northern European-account for about three-fifths of Mississippi's residents, while African Americans make up nearly all of the remainder.
English is the official language of Mississippi and has been since 1987. It is by far the most widely spoken language, with only a minute portion of the population speaking foreign languages such as Spanish or French.
Just like on the federal level, Mississippi has three branches of government: the executive branch, the legislative branch, and the judicial branch. The three branches work together and have checks and balances against each other so that no branch becomes too strong.
Mississippi has an unemployment rate of 4.7%. The US average is 3.9%.
Manufacturing and services-primarily government (federal, state, and local), retail and wholesale trade, real estate, and health and social services-are the largest sectors of the state's economy.
United States Dollar (USD)
Mississippi does not separately impose exchange control or currency regulations.
The financial services industry has become a key component of Mississippi's economic strength and growth. The state has been home to many banks and financial services companies for years due to tax regulation on interest rates.
Because of its friendly business climate, many companies that you would not associate with Mississippi are incorporated in the state.
The corporate laws of Mississippi are user-friendly and often adopted by other states as a standard for testing corporate laws. As a result, the corporate laws of Mississippi are familiar to many lawyers both in the US and internationally. Mississippi has a common law system.
One IBC supply incorporation in Mississippi service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
More than a million corporations have been incorporated in Mississippi and lots of U.S. publicly-traded companies. Businesses choose Mississippi because it provides modern and flexible corporate laws and a business-friendly State Government.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
Just 4 simple steps are given to start a business in Mississippi:
* These documents required to incorporate a company in Mississippi:
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How to start a business in Mississippi, USA
There is no minimum or a maximum number of authorized shares since Mississippi incorporation fees are not based on the share structure.
Only one director required
Minimum number of shareholders is one
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
The Mississippi Franchise Tax Board requires all new LLC companies, S-corporations, C-corporations that is incorporated, registered or doing business in Mississippi must pay the $800 minimum franchise tax
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Payment, Company return due date
All LLC companies, corporations are required to update their records, either annually or biannually, based on the year of registration and pay the $800 Annual Franchise Tax every year.
A Statement of Information must be filed with the Mississippi Secretary of State within 90 days after filing the Articles of Incorporation and each year thereafter during the applicable filing period. The applicable filing period is the calendar month in which the Articles of Incorporation were filed and the immediately preceding five calendar months
Most corporations must pay a minimum tax of $800 to the Mississippi Franchise Tax Board each year. Mississippi Corporation Franchise or Income Tax Return is due on the 15th day of the 4th month after the close of the corporation's tax year. Mississippi S Corporation Franchise or Income Tax Return is due on the 15th day of the 3rd month after the close of the corporation's tax year.
Limited liability companies must file a complete Statement of Information within the first 90 days of registering with the SOS, and every 2 years thereafter before the end of the calendar month of the original registration date.
Once your limited liability company is registered with the SOS it is an active business. You are required to pay the minimum annual tax of $800 and file a tax return with FTB for each taxable year even if you are not conducting business or have no income. You have until the 15th day of the 4th month from the date you file with the SOS to pay your first-year annual tax.
