Section 27-7-77 - Credit for income taxes paid(1) Individual resident taxpayers of Mississippi whose gross income is derived from sources both within and without the State of Mississippi shall be allowed a tax credit for income tax paid to another state, territory of the United States, or the District of Columbia against the amount of tax found to be due to the State of Mississippi.(2) This tax credit shall be limited in amount, however, as provided below: (a) The tax credit may not exceed the amount of income tax due the State of Mississippi.(b) The tax credit may not exceed the amount of income tax actually paid to the other state.(c) The tax credit may not exceed an amount computed by applying the highest Mississippi rates to the net taxable income reported to the other state. The net taxable income reported to the other state shall be computed on the basis of the provisions contained in the income tax laws and regulations of said other state. Highest rates are meant to mean the highest rates at which the net taxable income reported to the other state is taxable by the State of Mississippi.(3) Before an individual resident taxpayer of Mississippi may claim the credit allowed under this section, he shall file with his tax return a certificate showing amounts of gross income, net income, and net taxable income derived from sources without this state, together with the amount of tax paid or to be paid on such income.Codes, 1942, § 9220-38; Laws, 1934, ch. 120; Laws, 1940, ch. 124; Laws, 1944, ch. 123, § 2; Laws, 1952, ch. 402, § 37; Laws, 1954, ch. 371; Laws, 1966, ch. 633, § 1, eff. 7/1/1966.