Mississippi Administrative Code

"Commissioner" means the Commissioner of the Mississippi Department of Revenue. Notes 35 Miss. Code. R. 1-02-101 Amended 7/1/2018 Amended 12/23/2024

"Department" means the Mississippi Department of Revenue Notes 35 Miss. Code. R. 1-02-102 Amended 7/1/2018 Amended 12/23/2024

"Designated representative" means an individual, business, private service provider or employee who represents a taxpayer in the preparation and/or maintenance of records as provided in the regulation. Notes 35 Miss. Code. R. 1-02-103 Amended 7/1/2018 Amended 12/23/2024

"Person" means a natural person, partnership, limited partnership, corporation, limited liability company, estate, trust, association, joint venture, other legal entity or other group or combination acting as a unit, and includes the plural as well as the singular in number. Note…

"Records" means written and/or computerized documentation that pertains to a person's financial affairs in which transactions are entered and summarized, including but not limited to, assets and liabilities, monetary transactions, contracts, or loans. Notes 35 Miss. Code. R. 1-02…

"Source Document" means the original records containing the key details of a transaction, including its date, purpose, and amount. Source documents provide documentary evidence or proof that a transaction occurred and are critical to verify and support the information provided on…

In most cases, records are to be maintained no less than three (3) years from the date the return was filed. There are instances when records should be kept for longer periods, such as: 1. If a notice of assessment or denial of refund has been issued to the taxpayer by the Depart…

Examples of records to maintain include, but are not limited to the following: 1. General ledgers, sales journals, purchase order books, cash receipts books, cash disbursement books 2. Canceled checks, bank statements, sales contracts, purchase invoices 3. Profit and loss stateme…

The requirements contained in this regulation are not to be construed as an exclusive list for each person. Record keeping and retention requirements will vary by tax type, business type, and on an individual basis. Notes 35 Miss. Code. R. 1-02-109 Amended 7/1/2018

Notes 35 Miss. Code. R. 1-02-110 Reserved 7/1/2018

1. The provisions of the Mississippi Code of 1972 shall govern the administration of any tax, interest, or penalty assessed due to late EFT payments. 2. No specific additional penalty provisions are provided concerning compliance with the EFT tax payment requirement. Rather, the …

1. Those taxpayers who are not required to make EFT payments for any tax type may request permission from the State Tax Commission to make EFT payments for a tax type that is being implemented by the Mississippi State Tax Commission. 2. Taxpayers making a voluntary election to ma…

During the early stages of implementing this Act, not to exceed three months from the effective dates of implementation, the State Tax Commission may, at its discretion, extend a grace period of no more than two business days for taxpayers to resolve unexpected problems which may…

A taxpayer must provide at least 30 days written notice of any change of information required by submitting a revised "Registration Application For Electronic Funds Transfer" to: Mississippi State Tax Commission EFT Unit P. O. Box 960 Jackson, MS 39205 Notes 35 Miss. Code. R. 1-0…

1. Taxpayers who are required to remit tax payments through EFT must initiate the transfer so that the amount due is deposited as collected funds to the State Treasurer's account on or before the due date under the appropriate revenue law. If a tax due date falls on a Saturday, a…

[Effective until 12/23/2024] Reserved Notes 35 Miss. Code. R. 1-02-116

[Effective until 12/23/2024] Reserved Notes 35 Miss. Code. R. 1-02-117

[Effective until 12/23/2024] Reserved Notes 35 Miss. Code. R. 1-02-118

[Effective until 12/23/2024] Reserved Notes 35 Miss. Code. R. 1-02-119

[Effective until 12/23/2024] Reserved Notes 35 Miss. Code. R. 1-02-120

Notes 35 Miss. Code. R. 1-02-200 Adopted 12/23/2024

The purpose of this regulation is to outline the general requirements imposed on every taxpayer to prepare and retain all records necessary to determine the correct tax liability with respect to taxes administered by the Department of Revenue. These requirements are imposed on al…

Every taxpayer and every designated representative, if applicable, is required to keep accurate, complete, and legible records. Records should be adequate to provide reasonable assurance that all taxable transactions and income are properly identified and recorded. Records must b…

A taxpayer or his designated representative, if applicable, should keep separate business and personal records with transactions clearly identified as business or personal. If a taxpayer owns multiple businesses, the records for each business must be kept separate. Notes 35 Miss.…

If a taxpayer makes deposits or transfers of non-business income or money into a business account, sufficient documentation must be maintained to support the source of those funds. If the non-business funds were a loan, maintain a copy of the signed loan instrument that shows the…

Records may be considered inadequate if: 1. There are missing, lost, or incomplete documents or records, and/or the records are not in a form that the Department can audit. 2. The taxpayer or his designated agent, if applicable, failed or refused to provide records to the Departm…

If adequate records necessary to determine the tax due are not kept, or if an audit of the records of a taxpayer, or any return filed by him, or any other information discloses that taxes are due and unpaid, the Commissioner may take actions that include, but are not limited to: …

In most cases, records are to be maintained no less than three (3) years from the date the return was filed. There are instances when records should be kept for longer periods, such as: 1. If a notice of assessment or denial of refund has been issued to the taxpayer by the Depart…

Examples of records to maintain include, but are not limited to, the following: 1. General ledgers, sales journals, purchase order books, cash receipts books, and cash disbursement books. 2. Canceled checks, bank statements, sales contracts, and purchase invoices. 3. Profit and l…

The requirements contained in this regulation are not to be construed as an exclusive list for each person. Record keeping and retention requirements will vary by tax type, business type, and on an individual basis. Notes 35 Miss. Code. R. 1-02-209 Adopted 12/23/2024

Notes 35 Miss. Code. R. 1-02-210 Reserved 12/23/2024

Notes 35 Miss. Code. R. 1-03-100 Amended 7/1/2018 Amended 12/23/2024

The Department of Revenue has established guidelines for software developers and any individual or business that plans to market, distribute, or file substitute or reproduced tax forms. Notes 35 Miss. Code. R. 1-03-101 Amended 7/1/2018 Amended 12/23/2024

Any form, other than an official Department form, that is printed, or computer produced/programmed is a substitute form. All substitute forms produced by software providers must be submitted to the Department for approval prior to being included in a software package for use by t…

Provider's responsibilities are: 1. To comply with the Substitute Forms Guidelines; 2. To obtain written approval from the Department for all forms printed and/or distributed, as well as forms that will be generated by tax preparation software; and 3. To ensure that all forms act…

A taxpayer may file returns printed from a provider's tax preparation software package if the forms printed from the packager have been approved by the Department. If the forms printed from the package have been approved, then the provider should have an email from the Department…

Taxpayer's and Tax Preparer's responsibilities are: 1. To file their return using an original Department form; 2. To file their return on an approved provider form; or 3. To file their return using a tax preparation software package that generates the form approved by the Departm…

It is the responsibility of both Taxpayers and Tax Preparers to file the original return with an original signature. Photocopies are not acceptable. Notes 35 Miss. Code. R. 1-03-106 Amended 7/1/2018 Amended 12/23/2024

A penalty of twenty-five dollars ($25.00) may be imposed for each form in each return not in compliance with this rule whether said form is a photocopy or an unapproved form. This penalty may be imposed on the taxpayer, tax preparer, and/or provider. Notes 35 Miss. Code. R. 1-03-…

Photocopies will only be accepted in limited circumstances as follows: 1. If a taxpayer must file a duplicate of their return after the original filing, a photocopy is acceptable. A letter clearly stating that it is a duplicate and the reason the original is not available must be…

Notes 35 Miss. Code. R. 1-03-109 Adopted 7/1/2018 Reserved 12/23/2024

Notes 35 Miss. Code. R. 1-03-110 Reserved 7/1/2018

Notes 35 Miss. Code. R. 1-04-100 Amended 5/27/2017 Amended 7/1/2018 Amended 12/1/2019 Amended 12/23/2024

"ACH" - Automated Clearing House - A central distribution and settlement point for the electronic clearing of debits and credits between financial institutions rather than the physical movement of paper items. Notes 35 Miss. Code. R. 1-04-101 Amended 5/27/2017 Amended 7/1/2018 Am…

"ACH Credit" - The electronic funds transfer payment method where the transactions are initiated and generated by the taxpayer, cleared through the system for deposit to the State Treasury. Notes 35 Miss. Code. R. 1-04-102 Amended 5/27/2017 Amended 7/1/2018 Amended 12/1/2019 Amen…

"ACH Debit" - The electronic funds transfer payment method where transactions are generated by the Department upon the taxpayer's instruction and cleared through the ACH system for deposit to the State Treasury. Notes 35 Miss. Code. R. 1-04-103 Amended 5/27/2017 Amended 7/1/2018 …

"Addenda Record" - The information required by the Department in an ACH Credit transfer in an approved electronic format. Notes 35 Miss. Code. R. 1-04-104 Amended 5/27/2017 Amended 7/1/2018 Amended 12/1/2019 Amended 12/23/2024