50 State Series: How to move your LLC or corporation out of Mississippi and keep your EIN

Mississippi has made real tax reforms, but business owners should not confuse improvement with tax neutrality. In this presentation, Chad D. Cummings, CPA, Esq., explains why Mississippi ranks 27th on the Tax Foundation’s 2026 State Tax Competitiveness Index, including its move to a 4.0 percent flat individual income tax, permanent full expensing for machinery and equipment, scheduled capital stock tax elimination, and absence of estate or inheritance taxes. The discussion also addresses the structural risks that remain, including Mississippi’s graduated corporate income tax, throwback rule on corporate income, 7.0 percent state sales tax, low per capita tax base, and public pension system funded at only 57 percent. On $500,000 of annual pass-through income, Mississippi’s 4.0 percent income tax produces $20,000 of state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company’s legal domicile to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learnmore: https://www.cummings.law/redomestication/