35 Miss. Code R. § 3-05-03-100

Current through May 31, 2024

Section 35-3-05-03-100

Only the following taxes shall be allowed as a business expense deduction in computing net income for the taxable year within which paid or accrued, according to the method of accounting used in computing taxable income:

1. State and local, and foreign, real property taxes.

2. State and local personal property taxes.

3. Cigar and cigarette taxes, gasoline taxes, and sales and use taxes if included in business gross income, or if incurred as an item of expense in a trade or business or in the production of taxable income.

35 Miss. Code. R. § 3-05-03-100