What is a Mississippi combined income tax return and what are the requirements to file on a combined basis?
A Mississippi combined income tax return includes two or more members of an affiliated group of corporations that are taxable in Mississippi and where one or more member(s) of the combined group is taxable in another state. While each member will compute its Mississippi taxable income (or loss) on a separate basis, the net business income (or loss) so computed for each member shall be combined to determine the net business income (or loss) of the affiliated group of corporations.
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