35 Miss. Code R. § 3-01-02-200
Current through May 31, 2024
When the accounting period is changed, it is required that the tax on the first return be computed by placing the income on an annual basis. The annualized income is determined by dividing the income for the period by the number of months in the short period and multiplying the result by 12. The tax computed on the annualized taxable income is multiplied by the number of months in the short period and divided by 12.
35 Miss. Code. R. § 3-01-02-200