There is a newer version of the Mississippi Code
2016 Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 11 - Nonprofit, Nonshare Corporations and Religious Societies
Conduct of Private Foundations (§§ 79-11-51 - 79-11-61)
§ 79-11-53. Distribution of amounts to avoid tax liability
MS Code § 79-11-53 (2016) What's This?
Each corporation which is a "private foundation," as defined in Section 509 of the United States Internal Revenue Code shall distribute, for the purposes specified in its articles of organization, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by Section 4942(a) of the United States Internal Revenue Code.
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