Funding & Forgiveness: Exploring the CARES Act & Mississippi State Tax Incentives


PPP Forgiveness Considerations

The true stimulus of the CARES Act is realized when PPP loan forgiveness is achieved. However, how that forgiveness will work is far from clear. New guidance is released regularly leaving many with questions about how their companies will be affected.

In addition to changing guidance, forgiveness will require businesses to strategically plan the eight-week covered period after receiving their funds. Deciding how and when to bring employees back and what your funds can and can’t be used for are just the beginning.

Forgiveness is not automatic. The borrower must request it and submit required proof. The SBA’s PPP forgiveness application will be complex, and most businesses will need assistance to maximize their forgiveness amount.

Unclaimed Mississippi State Tax Incentives

Are you concerned about longer-term cash flow? There’s another potential source of funds that may already be yours. Many manufacturers have left money on the table in the form of unclaimed Mississippi Tax Incentives.

In fact, the Mississippi Department of Revenue’s 2019 annual report listed over 6,100 manufacturers registered with the state but noted only 21 took advantage of the manufacturing investment tax credit. Many of these incentives and credits can even be claimed retroactively.

HORNE’s SALT team is led by the former Bureau Director of Corporate Tax with the Mississippi Department of Revenue. The SALT team can help ensure businesses capitalize on all incentive opportunities offered by the State of Mississippi.

HORNE recently helped a large client claim more than $5 million in manufacturing investment tax credits. We offer a complete, no-cost review* to find available incentives not being utilized and prepare application and renewal forms.

Discover if you have unclaimed incentives and how our SALT team can help.



More Insights

Navigating the Future of Construction

The construction industry has faced its fair share of challenges in recent years. But now, with continued federal funding, the industry is expected...


HORNE Earns C3PAO Designation

HORNE's cyber team recently earned The Cyber AB Certified Third-Party Assessor Organization (C3PAO) designation which allows HORNE to perform...


HORNE Receives “Corporate Volunteering Champion” GiveAward

With more than 1400 volunteer hours served in Mississippi, HORNE was awarded the "Corporate Volunteering Champion" GiveAward from Volunteer...


HORNE Named in Top 25 Accounting Firms in the U.S.

HORNE has been named one of the top 25 accounting firms in the U.S. by industry publication Accounting Today. The magazine recently released a...


Construction Quarterly Economic Report

CICPAC, in collaboration with economist Dr. Chris Kuehl and Armada CI, has launched a quarterly economic report that specifically targets the...


Talk to an expert today.