Mississippi!

 
   Corporate Name Endings
     * The name must contain word "corporation", "company",
       "incorporated", or limited" or the abbreviation corp., co., inc.,
       ltd., or words or abbreviations of like import in another
       language. The name may not contain language implying the
       corporation is organized for any unauthorized purpose. The name
       must be distinguishable from that of domestic or foreign
       corporations entitled to do business in state, or to reserved or
       registered name.
       
   Articles of Incorporation Requirements
     * Director Information
          * Minimum Number - One or more.
          * Residence Requirements. - No provision.
          * Age Requirements - None.
          * Directors are not required to be listed in the articles of
            incorporation.
     * Officer Information
          * The officers are not required to be listed in the articles of
            incorporation.
     * Stock Information
          * An increase in shares or par value does not effect initial
            fees.
       
   Yearly Requirements
     * Annual Statements
          * Annual reports are due within 60 days of each anniversary
            date of incorporation with respect to a domestic corporation,
            and within 60 days of authorization to transact business in
            Mississippi with respect to a foreign corporation. A $25 fee
            must accompany the annual report.
     * Income Tax Rate
          * Tax is based on taxable income allocated to Mississippi at 3%
            of first $5,000; 4% on next $5,000; 5% over $10,000.
     * Franchise Tax Rate
          * Every domestic corporation and every foreign corporation
            doing business in Mississippi must pay a franchise tax.
            Basis and rate.
            $2.50 per $1000 or fraction of the value of the capital used,
            invested or employed in Mississippi. Minimum tax, $25. Based
            on the corporation's capital at close of its year preceding
            the filing of the return. Capital includes issued and
            outstanding capital stock, paid-in capital, surplus, retained
            earnings, and all true reserves as well as amounts designated
            for payment of dividends unless irrevocably placed to the
            credit of stockholders, excluded are debts, bonds, mortgages,
            and reserves for bad debts, depreciation or valuation.
            Allocation and apportionment.
            Corporations doing business both in and outside Mississippi
            determine the capital employed in Mississippi by multiplying
            the year-end total capital by the local-to-local ratio
            represented by (1) real and tangible personal property in
            Mississippi plus gross receipts from business in Mississippi
            (numerator) divided by (2) total of such property plus total
            of such receipts everywhere (denominator). An organization
            using a formula method of apportionment determines its gross
            receipts from business carried on in Mississippi by applying
            to total unitary receipts the ratio achieved (or which would
            be achieved) by such formula and adding to the result of such
            application any nonunitary Mississippi receipts. Effective
            for tax years after 1998, the gross receipts of a corporation
            using a formula method of apportionment will also include any
            receipts from the taxpayer's operations which are not
            apportioned but rather are directly allocated (or assigned)
            to Mississippi. If the taxpayer is required to use a formula
            method of apportionment in making income tax returns that
            does not have a receipts or sales factor, then the receipts
            factor for the franchise tax formula will be determined by
            regulation of the State Tax Commission.
            Return and payment.
            Pay to State Tax Commission, by 15th day of 3d month
            following close of annual accounting year. The Commission may
            require the payment of any tax liability of $20,000 or more
            in funds that are immediately available to the state on the
            date the payment is due.
            Estimated taxes.
            Payments of estimated taxes are due on the 15th day of the
            4th month of the income tax year together with the
            declaration or in four equal installments, due on or before
            the 15th day of the 4th, 6th, 9th, and 12th months of the tax
            year.
     * Annual Report
          * Liability.
            Every domestic corporation and every foreign corporation
            authorized to do business in Mississippi must file an annual
            report with the Secretary of State. Annual reports are due
            within 60 days of each anniversary date of incorporation with
            respect to a domestic corporation, and within 60 days of
            authorization to transact business in Mississippi with
            respect to a foreign corporation. A $25 fee must accompany
            the annual report.
       
   For more information on taxes, visit www.mstc.state.ms.us