35 Miss. Code. R. 3-05-03-102

Current through December 10, 2024

Section 35-3-05-03-102

The following taxes shall not be allowed as a business expense deduction in computing net income:

1. Federal and state income taxes.

2. Any taxes based on or measured by net income.

3. Estate and inheritance taxes.

4. Gift taxes.

5. Cigar and cigarette taxes, gasoline taxes, and sales and use taxes if not included in business gross income, or if not incurred as an item of expense in a trade or business.

35 Miss. Code. R. 3-05-03-102