35 Miss. Code R. § 3-02-01-100
Current through May 31, 2024
Income which is credited to the account of, or set apart, for a taxpayer and which may be used by the taxpayer at any time is subject to tax for the year during which the income is credited or set apart, even though the taxpayer does not have direct possession. To constitute receipt, the income must be credited or set apart to the taxpayer without any substantial limitation or restriction as to the time or the manner of payment or condition upon which payment is to be made, and must be made available to be drawn at any time, and its receipts brought within the taxpayer's control and disposition.
35 Miss. Code. R. § 3-02-01-100