Sales tax – Panola County is a Tier III county, therefore, you will qualify for a full sales and use tax exemption on purchases of component building materials used in the construction or expansion of your building and for the purchase of any new machinery and equipment.
State income tax – The credit in Panola County, a Tier Three county, is now 10% of the payroll of the company per year for five years.
County and City property taxes – Panola County and Cities within Panola County will grant a 10 year tax exemption on all real and personal property except for school taxes that apply. (NOTE: The State of Mississippi does not have state property taxes.)
Also, the county will grant a Freeport Warehouse Tax Exemption on all finished goods that qualify that are shipped out of state. This is a perpetual exemption.
All industrial property in Panola County is in a New Market Tax Credit Zone.
Other local incentives are available and are based on job creation and the amount of investment by the company. We will be glad to discuss the details of these incentives with each individual company.
Millage Rates 2020-2021
Batesville — 30.25
Sardis — 35.55
Como — 41.39
Courtland — 10.00
Crenshaw — 33.50
Crowder — 45.00
Pope — 14.00
Panola County — 69.99, plus 2.00 mills for fire in county
North Panola Schools — 56.40
South Panola Schools — 60.50
(Source: Panola County)