LLC Cost in Mississippi – How Much to Pay for an LLC


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Perhaps you are hoping to form an LLC in Mississippi. People assume that starting an LLC is difficult and costly. However, it’s generally not difficult, and the cost would vary across states. We have all the info you need to know about the cost of forming an LLC, particularly the LLC cost in Mississippi.

Mississippi LLC Cost of Filing

Here are the costs involved in forming an LLC in Mississippi.

Cost of Filing Formation Certificates

The Mississippi Certificate of Formation is responsible for the majority of the cost, which could also vary depending on whether you’re forming a domestic LLC or a foreign LLC. Still, you can file both at the Mississippi Secretary of State

Mississippi Domestic LLC

  • Online Filing costs $50
  • Annual Report filing costs $0
  • Name Reservation Fee costs $25
  • By mail filing: Not Available

Mississippi Foreign LLC

  • Online Filing costs $250
  • Annual Report filing costs $250
  • Name Reservation Fee costs $25
  • By mail filing: Not available

Visit the Business Documents Filing Fees by Mississippi Business Corporations to learn more about the forms and fees requirements of business LLCs in Mississippi.

Note that filing online is ideal, not only because you need to go to the Secretary of State office, but also it would be faster. You won’t have to wait in a queue in doing so. Besides, Mississippi only allows online filing to date.

Mississippi LLC Formation Service or Registered Agent Fee

You need a registered agent to form an LLC in Mississippi, hence, added costs for service fees. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries.

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Business Permits and Licenses 

The business licenses depend on your business’s activity and location and are renewed yearly. As such, the cost will vary. Check the Mississippi Department of Revenue for regulatory boards or agencies requiring licensing. 

Mississippi LLC taxes to be Paid

Though the annual report filing in the State of Mississippi is free of cost, the LLCs in the State are subject to different State Tax filing obligations. Though the taxes vary from county to county.

Mississippi State Income Tax

This is the State Tax levied on any income you pay to yourself. The tax rate varies between 3.0% to 5.0%, depending on the total amount of taxable income.

Mississippi Sales Tax

The standard rate of sales tax applicable is at the rate of 7.00% and the maximum local or county rate that applies additionally is 1.00%.

Mississippi Federal Self-Employment Tax

Any profit that Mississippi LLC Business members draw out from the business is liable to pay self-employment tax. The standard tax rate is 15.3%.

Mississippi Employer Payroll Tax Withholding

If you hire employees in Mississippi, you must withhold payroll tax from their salaries. The standard rate of withholding is 7.65% of the taxable salary of the employees.

Cost Comparison among States

Every state has different costs of filing for an LLC to their respective State Authorities. If you wish to gain a better understanding of the costs of opening an LLC in a different state in comparison to Mississippi, read the table below:

StateFiling FeeAnnual Fee/Biennial FeeSales Tax
Mississippi LLC$50$07.00%
Tennessee LLC$300$300 (Annual)7.00%
Alabama LLC$200$100 (Annual)4.00%
Louisiana LLC$100$35 (Annual)4.45%
Arkansas LLC$45$150 (Annual)6.50%

Mississippi’s economy has witnessed a forward-looking forecast with a significant rise in its GDP. Manufacturing, trade, real estate, health, and education have been the major contributing sectors to the State’s rising economy.

Other Costs

How Much Does It Cost to Maintain an LLC in Mississippi

The first thing that you need to know about the costs of starting an LLC in Mississippi is that it is not very expensive. If you choose to register your company with the state, you may need to pay for a business license or state registration. Once your LLC is registered, you must file an annual report with the state. You will not incur any expense if you file your report on time, but you will face late fees if you do not do it on time.

After you’ve chosen a business name, you’ll need to obtain a Tax ID or EIN from the Mississippi Secretary of State. An EIN is similar to a social security number, so you need to make sure that you apply for one. You can easily obtain one online. Once you’ve received your tax ID, you’ll need to open a bank account for your business. You can even use a credit card for your business, which is helpful for keeping personal and business funds separate. Once you’ve formed your business, you’ll need to obtain a certificate of good standing.

The next thing you need to do is decide on a business name. You’ll need a business name in Mississippi, so make sure to check that it is available before you apply. Having the right name is crucial to your LLC’s success, so choosing a unique and memorable name is a must. An employee ID is also a great way to distinguish your LLC from other businesses in the state.

F.A.Qs

Can I start an LLC for free?

It is possible to form an LLC without professional help, but forms still have associated costs, regardless of where your LLC is formed.

Is an LLC expensive?

It is difficult to say whether forming an LLC is expensive. Nevertheless, the cost could be anywhere from $40 to $500. If you refuse to hire professionals, you’ll still have expenses like form fees to cover.

Does an LLC need a bank account?

The need to separate personal money from business funds, thus necessitating the creation of a business bank account for your LLC.

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