Section 35-3-08-06-402.08 - Business Income of Manufacturers1. MANUFACTURERS SELLING PRINCIPALLY AT WHOLESALE. The net business income of a taxpayer, engaged in the trade or business of manufacturing and selling principally at wholesale, 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 plus the sales factor, as defined subsection 402.09, paragraphs 1 and 2, and (c) of this Regulation, and the denominator of which is three (3).2. MANUFACTURERS SELLING PRINCIPALLY AT RETAIL. The net business income of a taxpayer, engaged in the trade or business of manufacturing and selling principally at retail, 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 average of the sum of property and payroll factors plus the sales factor, as defined in subsection 402.09, paragraphs 1 and 2 of this Regulation, and the denominator of which is two (2).35 Miss. Code. R. § 3-08-06-402.08