How does a construction contractor report his income to Mississippi when he has jobs in Mississippi and outside of Mississippi?
The net business income of taxpayers engaged in the business of contracting shall be accounted for and assigned directly to this state for each contract performed within this state. Taxpayers engaged in the business of contracting both within and without the state shall determine such job cost which cannot be specifically allocated to the Mississippi contract by multiplying such nonallocable business-related expenses in the ratio that Mississippi direct job costs bears to total direct job costs.
