35 Miss. Code. R. 3-10-04-105
Current through September 18, 2024
The patronage dividend received in cash by the patron must be included in the gross income of such patron. The patron may, however, exclude from Mississippi gross income the value of qualified written notices of allocation and qualified per-unit retain certificates to the extent that they represent non-cash items received. Dividends paid by the corporation based on stock ownership rather than patronage are not deductible by the corporation and are included in the gross income of the resident recipient.
35 Miss. Code. R. 3-10-04-105