Mississippi Code
Miss. Code Ann. § 27-13-1 (2026)
[Repealed Effective 1/1/2028] Definitions
✓ current as of July 2026
The words, terms and phrases when used in this chapter shall have the following meanings ascribed to them:
- (a) "Commission," "State Tax Commission," "Tax Commission" or "department" means the Department of Revenue of the State of Mississippi.
- (b) "Commissioner," "Chairman of the State Tax Commission," "chairman of the commission" or "chairman" means the Commissioner of Revenue of the Department of Revenue.
- (c) "Taxpayer" means any corporation, association or joint-stock company liable for or having paid any tax to the State of Mississippi under the provisions of this chapter or any corporation, association or joint-stock company subject to the provisions of this chapter.
- (d) "Domestic," when applied to a corporation or association, means created or organized under the laws of the State of Mississippi.
- (e) "Foreign," when applied to a corporation or association, means created or organized under some authority other than the laws of the State of Mississippi.
- (f) "Accounting period" or "accounting year" means a period of twelve (12) months ending on the last day of the month of December, known as a calendar year, or a period of twelve (12) months ending on the last day of any month other than December, known as a fiscal year.
- (g) "Corporation," "association" or "joint-stock company" means and includes each and every form of organization for pecuniary gain, having authorized capital stock, whether with or without par value, having privileges not possessed by individuals or partnerships; and whether organized with or without statutory authority; and may be referred to as "organizations." When any form of organization is treated as a corporation for federal income tax purposes it shall be treated as a corporation for purposes of this chapter.
- (h) "Doing business" means and includes each and every act, power or privilege, including any income-producing activities, exercised or enjoyed in this state as an incident to, or by virtue of, the powers and privileges acquired by the nature of such organization, whether the form of existence be corporate, associate, joint-stock company or common law trust. An entity that is required to file and report for federal income tax purposes the activity conducted in Mississippi of a qualified subchapter S subsidiary shall be considered to be doing business in this state for purposes of this chapter. An entity that is required to file and report for federal income tax purposes on the activity conducted in Mississippi of a single member limited liability company which is not classified as a corporation, and thus disregarded, shall be considered to be doing business in this state for purposes of this chapter.
- (i) "Holding corporation" means a corporation, association or joint-stock company:
- (i) owning capital stock of one or more other corporations, associations or joint-stock companies, which stock ownership represents at least eighty percent (80%) of the value and at least eighty percent (80%) of the combined voting power of all classes of issued and outstanding capital stock of such other corporation, association or joint-stock company; except that for purposes of this definition the term "stock" does not include nonvoting stock which is limited and preferred as to dividends; and
- (ii) deriving at least ninety-five percent (95%) of its gross receipts from dividends, interest, royalties, rents, services provided to members of an affiliated group (as defined in Section 27-7-37(2)(d)) to the extent of the cost of providing such services, and from such additional sources as the commissioner may specify by regulation. The definition of the various sources of gross receipts referred to herein shall be governed by applicable provisions of Chapter 7, Title 27, Mississippi Code of 1972, and regulations thereunder and shall include only passive categories of receipts in the computation of gross receipts.
- (j) "Subsidiary corporation" means a corporation, association or joint-stock company of which at least eighty percent (80%) of the value and at least eighty percent (80%) of the combined voting power of all classes of its issued and outstanding capital stock is owned by a holding corporation, except that for purposes of this definition the term "stock" does not include nonvoting stock which is limited and preferred as to dividends.
- (k) "Stock or securities" means any share of stock, certificate of stock, or interest in a corporation, note, bond, debenture, or evidence of indebtedness, or any evidence of an interest in or right to subscribe to or purchase any of the foregoing.
Codes, 1942, §§ 9312, 9315; Laws, 1934, ch. 121; Laws, 1956, ch. 412, § 1; Laws, 1966, ch. 635, § 1; Laws, 1975, ch. 467, § 1; Laws, 1993, ch. 350, § 1; Laws, 1997, ch. 504, § 1; Laws, 2000, ch. 479, § 2; Laws, 2009, ch. 492, § 52, eff. 7/1/2010.
Repealed by Laws, 2016, ch. 499, SB 2858, 5, eff. 1/1/2028.
Notes of Decisions
Cited in 3
cases, 1987–2008 · leading case: Tower Loan of Miss., Inc. v. Mississippi State Tax Com'n, 662 So. 2d 1077 (Miss. 1995).
Tower Loan of Miss., Inc. v. Mississippi State Tax Com'n, 662 So. 2d 1077 (Miss. 1995). “Concurrently, the legislature promulgated precise definitions for the terms "holding corporation" and "subsidiary corporation" in Miss. Code Ann. § 27-13-1 as follows: (i) "Holding corporation" means a corporation, association or joint stock company: (i) owning capital stock of…”
Mississippi State Tax Com'n v. Dyer Inv. Co., 507 So. 2d 1287 (Miss. 1987). “The only basis for error or invalidity in Dyer's accounts suggested by the Commission is that it has employed an accounting method with which the Commission disagrees.”
Fid. & Guar. Ins. Co. v. Joseph L. Blount, No. 2008-CA-01931-SCT (Miss. Oct. 21, 2008). “NOW THEREFORE, in addition to the obligations set forth in the attached bond, there is hereby imposed the additional obligation by this Rider that the Contractor shall promptly make payment when due of all taxes, damages, interest and penalties which may accrue to the State of…”
Miss. Code Ann. § 27-13-1(b): 1 case
Mississippi State Tax Com'n v. Dyer Inv. Co., 507 So. 2d 1287 (Miss. 1987). “The only basis for error or invalidity in Dyer's accounts suggested by the Commission is that it has employed an accounting method with which the Commission disagrees.”
Miss. Code Ann. § 27-13-1(i): 1 case
Tower Loan of Miss., Inc. v. Mississippi State Tax Com'n, 662 So. 2d 1077 (Miss. 1995). “Concurrently, the legislature promulgated precise definitions for the terms "holding corporation" and "subsidiary corporation" in Miss. Code Ann. § 27-13-1 as follows: (i) "Holding corporation" means a corporation, association or joint stock company: (i) owning capital stock of…”
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