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Article 1 - Income Tax
§ 27-7-1. Citation of article - This article may be cited as the Income Tax Law...
§ 27-7-3. Definitions - When used in this article: "Taxpayer" includes any individual, partnership,...
§ 27-7-7. Tax a debt - The tax imposed by this article, and all increases, interest...
§ 27-7-9. Gain or loss on disposition of property - Except as provided in Sections 27-7-95 through 27-7-103, determination of...
§ 27-7-11. Inventories - Whenever, in the opinion of the commissioner, the use of...
§ 27-7-15. Gross income defined - 1. Homeownership education or counseling; 2. The development of affordable...
§ 27-7-16. Gross income; treatment of employees' pension trusts, tax-sheltered annuities, deferred compensation plans, self-employed retirement plans, and individual retirement accounts or retirement bonds - Amounts contributed in the taxable year by employees and/or self-employed...
§ 27-7-17. Deductions allowed - In computing taxable income, there shall be allowed as deductions:...
§ 27-7-19. Items not deductible - In computing net income, no deductions shall, in any case,...
§ 27-7-20. Casualty losses of individuals - Casualty losses of individuals shall be computed and allowed in...
§ 27-7-21. Exemptions allowed - Allowance of deductions. In the case of a resident individual,...
§ 27-7-22. Tax credits for qualified businesses - For the purpose of determining the credit allowed to a...
§ 27-7-22.3. Credit for employees who pay job assessment fee; credit against state income taxes for authorized companies - [In cases involving an economic development project for which the...
§ 27-7-22.5. Income tax credit for manufacturers, distributors and wholesale or retail merchants for ad valorem taxes paid on commodities, raw materials, works-in-process, goods, wares and merchandise held for resale; income tax credit for individual... - 1. Under rental agreements with no specific term; 2. Under...
§ 27-7-22.9. Income tax credit for charges for using certain public port facilities; annual report regarding impact of § 27-7-22.7 - The Mississippi Development Authority shall report annually to the Legislature...
§ 27-7-22.11. Tax credit under Venture Capital Act of 1994 - Step One: Add the consideration paid for all qualified investments...
§ 27-7-22.15. Income tax credit for approved reforestation practices - Approved reforestation practices shall not include the establishment of orchards,...
§ 27-7-22.24. Mississippi Development Authority to report annually on the impact of the income tax credit granted in § 27-7-22.23 - The Mississippi Development Authority shall report annually to the Legislature...
§ 27-7-22.26. Mississippi Development Authority to report annually on the impact of the income tax credit granted in § 27-7-22.25 - The Mississippi Development Authority shall report annually to the Legislature...
§ 27-7-22.28. Job tax credit for certain producers of alternative energy definitions - As used in Sections 27-7-22.28 and 27-7-22.29, the following terms...
§ 27-7-22.31. Income tax credit for certain costs and expenses in rehabilitating eligible property certified as a historic structure or structure in a certified historic district; recapture of credit; applicability of section - 1. A certified historic district listed on the National Register...
§ 27-7-22.32. Income tax credit for certain qualified adoption expenses - [Through December 31, 2020, this section shall read as follows:]
§ 27-7-22.32. Income tax credit for certain qualified adoption expenses - [Effective from and after January 1, 2021, this section shall...
§ 27-7-22.35. Investment tax credit for enterprises owning or operating certain electric and thermal energy producing facilities - An eligible facility includes all burners and boilers, any handling...
§ 27-7-22.40. Job tax credit for certain full-time jobs created in Mississippi by water transportation enterprises - [ Repealed effective January 1, 2023]
§ 27-7-22.41. Tax credit for certain business enterprises making voluntary cash contributions to eligible charitable organizations - 1. The prevention and diversion of children from custody with...
§ 27-7-23. Net income of nonresident and foreign taxpayers - Definitions. The regular maintenance of an office or other place...
§ 27-7-24. Allocation and apportionment of income of financial institution with taxable activities within and without state - In any instance in which a taxpayer requests or the...
§ 27-7-24.1. Allocation and apportionment of income of financial institution with taxable activities within and without state; definitions - As used in Sections 27-7-24, 27-7-24.1, 27-7-24.3, 27-7-24.5 and 27-7-24.7,...
§ 27-7-24.5. Allocation and apportionment of income of financial institution with taxable activities within and without state; property factor - A. The taxpayer has assigned, in the regular course of...
§ 27-7-24.9. Allocation and apportionment of income of major medical laboratory service business with taxable activities within and without state - For purposes of this paragraph (b), a company shall be...
§ 27-7-25. Partnerships - Individuals carrying on businesses in partnerships shall be liable for...
§ 27-7-29. Organizations exempt from taxation; taxation of business income unrelated to tax exempt purposes of certain organizations - Except as otherwise provided in subsection (b) of this section,...
§ 27-7-41. Time and place for filing returns - Except as otherwise provided in this section, returns of individuals,...
§ 27-7-43. Returns for period less than twelve months - If any taxpayer, with the approval of the commissioner, changes...
§ 27-7-47. Free online income tax preparation and filing services for certain taxpayers - The Commissioner of Revenue may establish a program to offer...
§ 27-7-50. Extension of time to file return - The commissioner may grant a reasonable extension of time beyond...
§ 27-7-53. Delinquent taxes; failure to file return - 1. The taxpayer (and the taxpayer's spouse if the tax...
§ 27-7-55. Collection of tax; enrolling judgment - If any taxpayer, liable for the payment of income taxes,...
§ 27-7-57. Warrant for collection of tax - The commissioner may issue a warrant under official seal directed...
§ 27-7-59. Jeopardy assessment and warrant - If the commissioner has cause to believe and believes that...
§ 27-7-61. Execution by sheriff or special agent; fees; disposition of property - The sheriff, or special agent of the Tax Commission, upon...
§ 27-7-63. Commissioner may bid at sales - When any property is offered for sale under authority of...
§ 27-7-65. Alias executions - Whenever any property, personal or real, which is seized and...
§ 27-7-67. Sheriff and special agent not personally liable - Every warrant issued to a sheriff of any county of...
§ 27-7-69. Tax upon settlement of fiduciary's account - No final account of a fiduciary shall be allowed by...
§ 27-7-75. Receipts for taxes - When requested, the commissioner shall give any person making any...
§ 27-7-81. Regulatory authority - The commissioner, with the approval of the Governor, may from...
§ 27-7-85. Community property not recognized - For the purpose of this article, community property shall not...
§ 27-7-88. Contribution to Mississippi Burn Care Fund from state income tax refund; additional contribution at time of filing tax return authorized - The State Tax Commission shall print on the Mississippi income...
§ 27-7-89. Contribution to Mississippi Educational Trust Fund from state income tax refund - The State Tax Commission shall print on the Mississippi income...
§ 27-7-90. Contribution to Mississippi Commission for Volunteer Service Fund from state income tax refund - The State Tax Commission shall print on the Mississippi income...
§ 27-7-91. Designation of contributions to Mississippi Wildlife Heritage Fund on income tax returns - The State Tax Commission shall print on the Mississippi income...
§ 27-7-93.1. Contribution to Mississippi Wildlife, Fisheries and Parks Foundation from state income tax refund - The State Tax Commission shall print on the Mississippi income...
§ 27-7-94. Contribution to Mississippi Military Family Relief Fund from state income tax refund - The State Tax Commission shall print on the Mississippi income...
§ 27-7-97. Capital loss carrybacks and carryovers - For the purposes of the preceding sentence, any excess of...
§ 27-7-99. "Capital asset" defined - For purposes of Sections 27-7-95 through 27-7-103, the term "capital...
§ 27-7-101. Other definitions relating to capital gains and losses - The definition of the terms "short-term capital gain," "short-term capital...
§ 27-7-103. Applicability of provisions of Internal Revenue Code relating to capital losses - All provisions of the Internal Revenue Code of 1986, as...
Article 2 - Endow Mississippi Program
§ 27-7-201. Short title - This article shall be known and may be cited as...
§ 27-7-203. Legislative purpose - The purpose of this article is to promote philanthropic investments...
§ 27-7-205. Definitions - As used in this article: "Qualified community foundation" means an...
§ 27-7-209. Allocation of authorized tax credits; maintenance of records that determine priority for awarding tax credits - For each calendar year, a total of ten percent (10%)...
Article 3 - Withholding of Tax
§ 27-7-301. Citation of article - This article may be cited as the "Mississippi Income Tax...
§ 27-7-303. Definitions - As used in this article: "Commissioner" means the Commissioner of...
§ 27-7-311. Annual withholding statement - Every employer shall file an annual statement of withholding for...
§ 27-7-313. Refund to taxpayer - In the case of any overpayment of any tax, interest...
§ 27-7-319. Declaration of estimated tax - Every individual taxpayer subject to the tax levied by the...
§ 27-7-323. Amendment of declaration - A taxpayer may file amendments to a declaration at such...
§ 27-7-325. Joint declaration; husband and wife - A single declaration may be filed jointly by a husband...
§ 27-7-327. Underestimate of tax - Taxpayers subject to the requirements of estimated tax payments for...
§ 27-7-329. Payment of estimated tax - The estimated tax payment shall be made on such forms...
§ 27-7-331. Withholding tables; rules, regulations and forms - The commissioner shall prepare and furnish to employers state income...
§ 27-7-333. Employer's withholding account number - Except as otherwise provided in this section, every employer, as...
§ 27-7-335. Employee required to furnish exemption certificate to employer - Every employee whose wages are subject to the withholding provisions...
§ 27-7-337. Method of payment - All taxes due under the provisions of this article shall...
§ 27-7-339. Withholding state income taxes of federal employees by federal agencies - The commissioner is hereby authorized and directed to enter into...
§ 27-7-345. Civil penalties for failure to file return or deficiency in payment of tax - Any taxpayer who either fails to file a required return...
§ 27-7-349. Article 3 supplemental to Article 1 - The provisions of this article are supplemental to the provisions...
Article 5 - Setoff Against Income Tax Refund for Debt Owed for Child Support or Maintenance
§ 27-7-501. Declaration of purpose - The purpose of this article is to establish a policy...
§ 27-7-503. Definitions - As used in this article, unless the context requires otherwise:...
§ 27-7-505. Remedy to be in addition to others available - The collection remedy authorized by this article is in addition...
§ 27-7-511. Hearing upon written application - If the claimant agency receives a written application contesting the...
§ 27-7-519. Refund deemed granted upon exercise of setoff; return of monies improperly received by claimant agency - When the setoff authorized by this article is exercised, the...
Article 6 - Setoff Against Federal and State Income Tax Refunds
§ 27-7-601. Definitions - As used in this article: "Debt" means a past due,...
Article 7 - Setoff Against Tax Refund for Debt Owed on Default on Educational Loans
§ 27-7-701. Definitions - For the purposes of this article, the following terms shall...
§ 27-7-703. Provision of additional remedy - The collection remedy authorized by this article is in addition...
Article 8 - Local Government Debt Collection Setoff Act
§ 27-7-801. Short title - This article shall be known as the "Local Government Debt...
§ 27-7-803. Legislative purpose - The purpose of this article is to establish as public...
§ 27-7-805. Definitions - As used in this article: "Claimant local government" means counties...
§ 27-7-809. Applicability of article - This article only applies to a debt that is at...
§ 27-7-815. Priority of multiple claims - When there are multiple claims by two (2) or more...
§ 27-7-817. Collection assistance fee - To recover the costs incurred by the department and the...
§ 27-7-823. Promulgation of rules and regulations by department and local governments to implement and administer article - The department shall promulgate rules and regulations pursuant to the...
Article 9 - Taxes on Certain Winnings Paid to Patrons of Gaming Establishments -
Article 10 - Catastrophe Savings Accounts
§ 27-7-1001. Definitions - As used in this article, the following terms shall have...
§ 27-7-1007. Commissioner of Revenue to promulgate rules and regulations to implement and administer this article - The Commissioner of Revenue may promulgate rules and regulations necessary...
Article 11 - First-Time Home Buyer Savings Accounts
§ 27-7-1101. Definitions - As used in this article, the following words shall have...