Mississippi Administrative Code
Title 35 - Department of Revenue
Part 3 - Income and Franchise
Subpart 10 - Other Entities and Miscellaneous
Chapter 02 - Decedent's and Successor's Income
Section 35-3-10-02-100

Universal Citation: MS Code of Rules 35-3-10-02-100

Current through September 24, 2024

The final return of a taxpayer shall be computed on the same method of accounting (cash or accrual) used by the decedent in the last income tax return filed by him with the State of Mississippi within the three years immediately preceding the date of his death.

1. Inclusions in Gross Income of Decedent. The amount of all items of gross income of a decedent which are not properly includible in the taxable period in which his death occurred or a prior period, shall be included in gross income for the taxable year received by:

a. The estate of the decedent, if the right to receive the amount is acquired by the decedent's estate from the decedent;

b. The person who, by reason of the death of the decedent, acquires the right to receive the amount, if the right to receive the amount is not acquired by the decedent's estate from the decedent; or,

c. The person who acquires from the decedent the right to receive the amount by bequest, devises or inheritance, if the amount is received after a distribution by the decedent's estate of such right.

2. Installment Obligations. If the decedent at the time of his death possessed installment obligations which were being reported on the installment basis, the unreported income on such obligations may be reported by the decedent's estate on the same basis used by the decedent prior to his death or they may be reported and included in the decedent's final return.

3. Three Years Failure to File. If a deceased taxpayer has not filed a return with the State of Mississippi within the three years immediately preceding the date of death, the Commissioner may require that the return be filed on the cash basis.

4. Nonresident Successor. If any successor of a decedent is not a resident of this state, he is considered for the purposes of this section a nonresident with income subject to tax in this state.

Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.