83-450: New Jobs Credit (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Mississippi Form 83-450 calculates the New Jobs Credit using changes in full-time employment at a facility, payroll for eligible new jobs, and the payroll percentage for the county tier. It reports monthly employee counts, average employment increases, and the eligible credit amo
Who files this form
Employers use Form 83-450 to calculate the Mississippi New Jobs Credit. The form tracks full-time employees subject to Mississippi withholding at a facility and calculates the eligible credit based on payroll for new jobs.
If you use this form, attach it and the Income Tax Credit Summary (Form 83-401) to your return.
What you'll need
Have the following information ready:
- Name, FEIN, facility location and county.
- The number of full-time employees subject to Mississippi withholding at the facility at the end of each month.
- The number of months in operation and prior-year employee averages.
- Payroll amounts for new jobs and the applicable county-tier payroll percentage.
Attach a schedule listing each new full-time job's title, date created and payroll amount for each year. Also attach Form 83-450 and the Income Tax Credit Summary (Form 83-401) to your return.
How to file
Attach Form 83-450 and the Income Tax Credit Summary (Form 83-401) to your return. Include a schedule listing the new full-time jobs created, with each job's title, date created and payroll amount for each year.
The provided form does not give a mailing address or e-file instructions.
Common mistakes
- Combining employment increases from different periods to qualify. The form says a qualifying increase must occur in a single reporting period. You may not combine two or more periods to reach a qualifying employment level. A period is assumed to be a full fiscal or calendar year.
- Treating employment decreases like increases. A current-year decrease on line 7 reduces the number of eligible new jobs on line 17 for the current year. An employment increase is delayed a year.
- Leaving out required attachments. Include the new-job schedule, and attach this form and Form 83-401 to your return.
Questions people ask
Which employees should I count each month?
List the full-time employees subject to Mississippi withholding at the facility at the end of each month.
Where do I enter the average increase in full-time employees?
Enter it on page 1, line 6, and carry that amount to page 2, line 7.
How is the payroll-based eligible credit calculated?
Line 20 is line 18, the payroll amount for new jobs, multiplied by line 19, the percentage of payroll for new jobs in the county tier.
What must the new-job schedule include?
List the new full-time jobs created, including each job's title, date created and payroll amount for each year.