35 Miss. Code R. § 3-06-02-105
Current through June 25, 2024
A casualty loss incurred in a trade or business for profit shall be determined by references to the single, identifiable property damaged or destroyed. Thus, for example, in determining the fair market value of the property before and after the casualty in a case where damage by casualty has occurred to a building and ornamental trees used in a trade or business, the loss is computed separately for the building and separately for the trees. This rule does not apply to non-business property.
35 Miss. Code. R. § 3-06-02-105