Mississippi Administrative Code
Title 35 - Department of Revenue
Part 3 - Income and Franchise
Subpart 01 - Definitions and Miscellaneous
Chapter 06 - Period When Deduction Taken
Section 35-3-01-06-100
Universal Citation: MS Code of Rules 35-3-01-06-100
Current through September 24, 2024
The expenses, liabilities or credits of one year cannot be used to reduce the income of a subsequent year. If the taxpayer does not within any year deduct certain of his expenses, losses, interest, taxes or other charges, he cannot deduct them from the income of the next or any succeeding year.
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