35 Miss. Code R. § 3-08-03-112.06
Current through June 25, 2024
An income tax credit allowed to an S corporation may be passed on to the shareholders but may only be used to offset and reduce tax on income of the S corporation allocated to the shareholders. The shareholders are not allowed to receive a greater benefit than the corporation would have received, if the corporation were taxable.
35 Miss. Code. R. § 3-08-03-112.06