Boxer Jermain Taylor -- Charged in Shooting ... Faces 26 Years in Prison

Boxer Jermain Taylor has finally been hit with charges for SHOOTING his cousin at his Arkansas mansion back in August -- and if convicted, could face up to 26 years behind bars.

Taylor's wife called 911 immediately following the August 26th shooting ... and Jermain can be heard on tape admitting he shot a man. He also warns police, "Better come get him before I kill him."

At the time, Taylor claimed the man was an intruder and he was protecting his property -- but prosecutors are calling BS ... telling us they're not buying Taylor's self-defense story.

Now, he's been charged with battery and making terrorist threats -- both felonies. If convicted on both counts, he could face a maximum of 26 years in prison.

As for the victim, we're told he survived the shooting. No word on his current condition.