Exercising responsibility for fiscal management includes, but is not limited to, any one of the following activities:
1. A significant involvement in the day-to-day management of the business;2. the authority to sign business checks or tax returns;3. the authority to direct payment of business funds to creditors;4. the authority to pledge business assets as collateral for loans, advances, or lines of credit for the business;5. the authority to bind the business to contracts;6. the authority to hire or fire employees who are authorized to perform any act described in three (3) through five (5) of this paragraph;7. acting as a high ranking officer of the corporation or LLC, including, but not limited to, President, Vice-President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Chairman, Vice-Chairman, Director, Controller, Secretary and/or Treasurer; 8. ownership of more than fifty percent (50%) interest in the corporation or LLC unless an operating agreement exists at the time the tax liability is accrued specifying that the taxpayer is not responsible for fiscal management; or9. participating in decisions regarding the purchase or sale of the business or the authority to participate in decisions regarding the purchase or sale of the business.35 Miss. Code. R. § 3-11-23-202