2014 Mississippi Code
Title 27 - TAXATION AND FINANCE
Chapter 8 - MISSISSIPPI S CORPORATION INCOME TAX ACT
§ 27-8-21 - Credit for income tax paid by shareholder to another state
For purposes of Section 27-7-77, each resident shareholder shall be considered to have paid a tax imposed on the shareholder in an amount equal to the shareholder's pro rata share of any net income tax paid by the S corporation to a state which does not measure the income of shareholders of an S corporation by reference to the income of the S corporation. For purposes of the preceding sentence, the term "net income tax" means any tax imposed on or measured by a corporation's net income.
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