In this article, the problem of the p th moment exponential stability is be investigated for neutral Markov switched stochastic time-delay systems. By virtue of inequalities based on the state-dependent multiple Lyapunov functions, we propose adequate conditions for the p-ES of Markov switched neutral stochastic differential delay equation applying properties for the stationary distribution of Markov switched process. For a class of neutral Markov switched stochastic time delay systems with impulse, several new criteria for p th moment exponential stability is obtained using the impulse average dwell-time condition, the integral transformation inequality, and stochastic analysis theory. The results extend and improve the related results from the existing literature. Some examples are provided to illustrate the validity of our derived results.