Tax Rate	Exemptions Available
I. State Corporate Income Taxes:
First $5,000	3%
Next $5,000	4%
Over $10,000	5%	Yes
II. State Sales and Use Tax:
General Retail Sales Tax Rate	7%	Yes
III. County Property Taxes:
Assessment ratio for most property is 15% of true value. Taxable property includes real and tangible personal property.	Local rates vary. There is no state tax.
IV. Corporate Franchise Tax:	$2.50 for each $1000 of capital invested in state
V. Excise Taxes:
Gasoline	$0.18/gallon
Diesel fuel (highway use)	$0.18/gallon
Diesel fuel (non-highway use)	$0.0575/gallon
VI. Oil and Gas Severance Tax:
Oil and gas at point of production	6%
Oil and gas, produced or in the ground, and production equipment	Exempt from property taxes.
VII. Unemployment Insurance:
Employer is required to make a contribution on the first $7,000 of each employee's wages. The initial rate is 2.7%. The minimum and maximum rates are 0.4% and 5.4%, respectively.
VIII. Workers' Compensation:
Employers having five or more employees must purchase workers' compensation coverage through insurance carriers, or qualify with the Mississippi Workers' Compensation Commission as a self-insurer. Compensation can be up to two-thirds of the claimant's wages, up to a maximum of two-thirds of the average weekly wage for up to 450 weeks. Amounts are indexed on an annual basis. Compensation does not include medical payments.