What are Mississippis requirements for reporting miscellaneous income?
All individuals, businesses and corporations who are required to report: • payments made to a nonresident of rents, royalties, commissions, prizes, awards or other forms of compensation in the amount of $600 or more; • other forms of fixed or determinable gains, profits; or • income with an annual combined worth of one thousand two hundred dollars ($1,200) or more from a Mississippi source, which is not subject to withholding and not a part of information report of S corporations or partnerships. Mississippi participates in the combined federal/state reporting of information program.
