The Commissioner will follow Federal Rules, Regulations and Revenue Procedures relating to the following business deductions to the extent that such procedures are deemed not contrary to the context and intent of Mississippi Law.
1. Activities Not Engaged in for Profit - Hobby Losses2. Amortizable Bond Premium3. Amortization of Pollution Control Facilities7. Capital Contributions to Federal National Mortgage Association (F.N.M.A.)8. Circulation Expenditures9. Compensation for Personal Services11. Decline in Value of Stock12. Deduction for Discount on Bonds13. Demolition of Buildings14. Depreciation or Amortization of Improvements made by Lessee on Lessor's Property16. Entertainment Expenses17. Expenses and Interest Relating to Tax - Exempt Income18. Excessive Compensation19. Farmers' Expenditures for Clearing Land20. Farmers' Expenditures for Fertilizer21. Farming Expenses & Losses 24. Losses from Wash Sales of Stock or Securities25. Obsolescence of Nondepreciable Property26. Professional Expenses29. Research and Experimental Expenditures30. Soil and Water Conservation Expenditures31. Trademark and Trade Name Expenditures35 Miss. Code. R. 3-05-08-100