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Business Incentives for Growth DeSoto County
Our citrus isn't the only low-hanging fruit in DeSoto County. In a state with zero personal income tax, a corporate tax rate of only 5.5% and a sales tax rate of only 6%, we're also generous with business tax credits, refunds and exemptions.
Local Incentives:
- Rural Jobs Tax Credit: For eligible business, 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: This 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.
- Sales Tax Exemption on Electricity for Manufacturing: Qualifying businesses will be granted either a 50% or a 100% exemption of the sales tax on the charges for electricity or steam used in manufacturing.
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