The Mississippi Reforestation Tax Credit provides a Mississippi income tax credit up to 50 percent of the cost of approved hardwood and pine reforestation practices. The tax credit promotes reforestation on non-industrial private forestland. The credit applies only to individuals or groups of non-industrial private forest landowners. Landowners must have a reforestation plan prepared by a Registered Forester. The work must be verified by a Registered Forester on Mississippi tax form 80-315 and submitted to the Mississippi Department of Revenue by the landowner to qualify. The cost of planting orchards, Christmas trees, or ornamental trees does not qualify. Forest acreage already enrolled in a state or federal incentive program is not eligible for the tax credit. However, certain landowners may be eligible for the tax credit in addition to incentive payments. Please contact a professional tax advisor for further information.
Contact the Mississippi Department of Revenue for additional requirements and information, as well as a copy of tax form 80-315 for the current year.
Additional tax information for your forestland can be found by visiting the National Timber Tax Website.