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2018 Mississippi Code
Title 27 - Taxation and Finance
Chapter 7 - Income Tax and Withholding
Article 1 - Income Tax.
§ 27-7-16. Gross income; treatment of employees’ pension trusts, tax-sheltered annuities, deferred compensation plans, self-employed retirement plans, and individual retirement accounts or retirement bonds.
Universal Citation: MS Code § 27-7-16 (2018)
Amounts contributed in the taxable year by employees and/or self-employed individuals, including partners, to an employees’ pension trust, tax-sheltered annuity plan, authorized deferred compensation plan, self-employed retirement plan, individual retirement account or retirement bond which meets the requirements of a qualified plan under the provisions of the Internal Revenue Code of 1986, as amended, shall be deductible from gross income, subject to the conditions and limitations of the Internal Revenue Code of 1986, as amended. Amounts contributed in the taxable year to a Roth individual retirement account shall be treated in the same manner as provided under the Internal Revenue Code of 1986, as amended.
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