35 Miss. Code R. § 3-05-01-103
Current through May 31, 2024
Business expenses deductible from gross income include the ordinary and necessary expenditures directly connected with or pertaining to the taxpayer's trade or business. The cost of goods purchased for resale, with proper adjustment for opening and closing inventories, is deducted from gross sales in computing gross income.
35 Miss. Code. R. § 3-05-01-103