Mississippi Administrative Code
Title 35 - Department of Revenue
Part 3 - Income and Franchise
Subpart 08 - Corporations
Chapter 01 - Liquidations and Distributions
Section 35-3-08-01-106 - Collapsible Corporations

The entire gain from: (1) the actual sale or exchange of stock of a collapsible corporation, (2) amounts distributed in complete or partial liquidation of a collapsible corporation which are treated as payment in exchange for stock, and (3) a distribution made by a collapsible corporation, which is treated in the same manner as a gain from the sale or exchange of property, shall be considered as gain from the sale or exchange of property and such gain shall be treated as ordinary income.