Section 35-3-08-06-401.02 - DIRECT OR SEPARATE ACCOUNTING1. Any taxpayer, taxable both within and without this state, which maintains or could maintain books of account detailing allocation of receipts and expenditures reflecting clearly the business income attributable to property owned or business done in this state, shall determine Mississippi net business income on the basis of direct or separate accounting.2. Non-allocable general administrative expenses, and non-allocable net business income derived from sales of capital assets, interest, dividends, rents, royalties and other non-allocable business income shall be apportioned to Mississippi on the basis of a sales ratio.3. In the case, however, of contractors, the non-allocable general and administrative expenses apportioned to this state shall be determined by using the ratio between Mississippi direct job cost and total direct job cost.4. If at the discretion of the Commissioner a sales ratio does not fairly apportion the above items of income and expense, another ratio, such as an asset ratio, may be required.5. If a taxpayer feels that a sales ratio does not fairly apportion the above mentioned income or expense among all business activity, then the taxpayer may make application in writing to the Commissioner. This application must explain why the sales ratio does not fairly apportion and specify the ratio that the taxpayer wishes to use. The taxpayer shall not use this other ratio unless approved in writing by the Commissioner.35 Miss. Code. R. § 3-08-06-401.02