MS HB1416

Creates the "Mississippi Flexible Tax Incentive Act" allowing the Mississippi Development Authority to certify qualified businesses and award tax credits (mFlex) for economic development projects including warehouses, manufacturing facilities, research centers, headquarters, and data centers

Requires a minimum qualified investment of $2,500,000 or creation of at least 10 new full-time jobs (1,820 hours annually) to qualify for the incentive

Calculates tax credits as 1.5% of manufacturing machinery costs, 7% of non-manufacturing equipment costs, 2% of construction contract costs, plus additional percentages based on jobs created and wages paid relative to state/county averages

Allows credits to offset state income tax, franchise tax, sales/use tax, and up to 20% annually against withholding tax, with unused credits expiring 10 years after certification

Prohibits businesses receiving mFlex incentives from claiming other specified state tax credits, exemptions, or rebates for the same project, and requires annual reporting to the Mississippi Development Authority with potential award adjustments based on actual performance