27-7-5, et seq.
Who is Required to File
Resident individuals, trusts and estates on entire net income from property owned or sold and business trade or occupation carried on in Mississippi by nonresident individuals, partnerships, trusts and estates; Partnerships and S corporations are not taxable
First $5,000, 3%; Next $5,000, 4%; Over $10,000, 5%
Federal Income Tax Deduction
Federal Income used as Basis