Mississippi Corporations: How to Form and Maintain Your Mississippi Corporation

Should you form your corporation in Mississippi? We've collected the relevant information that will help you make this decision.

Pros

• Tax rate of 3-5% 

• Low cost of living

• Low cost of doing business

Cons

• Owner disclosure in periodic report

Cost of Doing Business

• $50 filing fee / $23.35 periodic report

Privacy

• Owner disclosure in periodic report

Forming Your Corporation in Mississippi

The Name

In order to communicate to the public that your new business is incorporated, its official name will need to end with one of the following signifiers (or a relevant abbreviation): “incorporated”, “Company”, or “corporation.” In addition, it is required that the name of your business is not intentionally misleading to consumers, for any reason. Your company’s new name must also be completely unique, and not deceptively similar to any other organizations name or trademarks. There are also restrictions placed on the use of terms common to the financial services industry. Do a FREE name search now.

Board of Directors Requirements

You will need to form an official board of directors when incorporating in Mississippi. Here are the states explicit regulations regarding these directors:

• Required number of directors

  Mississippi corporations must have at least one director listed in their incorporation documents.

• Age restrictions

  Directors of corporations located in Mississippi must be at least 18 years of age.

• Residence restrictions

  There are no residence restrictions imposed on the directors of C corporations in Mississippi. However, S corporations are only allowed to have directors located in the United States.

• What information needs to be included in the Articles of Incorporation?

  Mississippi does not require the names or addresses of directors to be disclosed in incorporation documents.

Requirements For the Articles of Incorporation

The Articles of Incorporation is a document that must be filed during the incorporation process in every state. Here is the information that must be included in this document when filing in Mississippi:

Stock Information

Mississippi requires the number of initial shares outstanding, and their par value, to be disclosed during the incorporation process. The number of outstanding shares does not affect initial state filing fees.

Officer Information

The state of Mississippi does not require officer information to be disclosed during the filing process.

Registered Agent Information

All Mississippi corporations must have a registered agent on file, and submit their name and address (which cannot be a PO box). This agent will be required to be accessible during standard business hours, and act as the state’s point of contact with the company. Learn more about registered agents.

Additional Mississippi Filing Requirements

Many states have steps in the incorporation process that are unique to that state. These can also vary at the municipality or county level as well. Here are the steps required throughout all of Mississippi:

Initial Report Deadlines

All corporations in Mississippi must file an initial report within six months of incorporating.

If Your Business Is a Professional Practice

Professional service corporations are permitted to form under the professional corporation (PC) structure.

Corporate Record-keeping Requirements

Corporations are required to keep formal documentation regarding several of their operations. These are the explicit record keeping formalities required by Mississippi:

• A copy of the Articles of Incorporation, bylaws, and their amendments

• The business address and names of all officers and directors

• Meeting minutes for all shareholder and director meetings.

• A copy of the corporation’s most recent annual report

• Formal documentation of all shareholder agreements

Mississippi Corporate Taxation and Fee Requirements

There are several tax and fee requirements that must be addressed by corporations in Mississippi. They are as follows:

Taxation

All states have complex taxation requirements. For more information regarding taxes in Mississippi, it is advised that you visit the state’s official business related website. 

Annual Report Requirements

Corporations in Mississippi are required to file an annual report before April 15th every year. The fee associated with this process is just under $25. They must also file and pay an Annual Corporate Income and Franchise Report that is due within 3 ½ months of the closing of each fiscal year. The amount due with this report is determined by the amount of capital in use inside of the state and carries a $25 minimum. Learn more about annual reports.

Tax Identification Numbers

Mississippi requires an EIN (employee identification number) for all corporations that will have employees, and most banks will require one to open accounts. Mississippi does not require corporations to obtain state tax ID numbers. Learn more about EINs.

Business License Requirements

The business licenses and permits required in Mississippi vary wildly depending on the county or municipality in which your new corporation is located. If you would like to see more in-depth information on licenses and permits, please feel free to visit the content in our learning library that covers business licenses and permits.

S Corporation Election

Mississippi does not require a state-level S corp election, as they recognize any elections held at the federal level.

Need a Mississippi LLC instead? File with us online today!