DeSoto County is incredibly business-friendly from a permitting, regulations, and tax standpoint. In a state with zero personal income tax, a corporate tax rate of only 4.458%, and a sales tax rate of only 7.5%, we’re also generous with business tax credits, refunds, and exemptions.
Our local incentives include:
Rural Jobs Tax Credit: For eligible businesses, a $1,000 tax credit for each qualified employee, up to $500,000 in tax credits for job creation per calendar year.
Ad Valorem Tax Exemption: For qualifying businesses, an exemption for up to 100% of the County Ad Valorem taxation, for a period of up to 10 years.
Business Incentive Grant: The BIG program can be used to provide incentives to qualified applicants for job creation, capital investment or to offset infrastructure improvement costs.
Rapid Expedited Development Incentive (REDI) Permitting: Reduced review and a unified permitting process get your operation rolling with ease.
Qualified Targeted Industry Tax Credits: Pre-approved applicants receive tax credits of up to $7,000 per net new full-time equivalent job created.
And, If and when you decide to build, you can expect O impact fees. We like to think this is even better than an incentive! DeSoto County does not currently have any impact fees, which is an automatic savings for companies looking to develop here in our community. No application necessary.