Section 35-3-08-06-402.07 - Business Income of Pipelines. The net business income of a pipeline company which has not been allocated, directly assigned, or excluded as otherwise provided in this Regulation shall be apportioned to Mississippi by multiplying such net business income by a fraction, the numerator of which is the property factor plus the payroll factor, as defined in subsection 402.09, paragraphs 1 and 2 of this Regulation, plus the traffic miles factor, and the denominator where is three (3)1. TRAFFIC MILES FACTOR. The term "traffic miles" means the movement or transportation of one barrel of oil, one gallon of gasoline, or one thousand cubic feet of natural or casinghead gas for a distance of one mile. In cases where MCF mileage units cannot be determined, then capacity mileage of the pipeline in Mississippi to total capacity mileage everywhere shall be used. Capacity mileage shall be determined by squaring one-half (1/2) of the diameter of each size of pipe and multiplying by the mileage of that size of pipe with a total computation for each in Mississippi as compared to the total of such computations everywhere.2. PIPELINE COMPANY DEFINED. A pipeline company means any taxpayer engaged in the trade or business of moving, conveying or transporting through a system or conduit of pipes any crude oil, natural gas, refined petroleum products, minerals or any other mineral products to a point of delivery either in, out or through Mississippi, and irrespective of whether such products of goods belong to the taxpayer or to others. The term includes transmission lines and connecting field and storage lines.35 Miss. Code. R. § 3-08-06-402.07