Mississippi Administrative Code
Title 35 - Department of Revenue
Part 4 - Sales and Use Tax
Subpart 01 - Administrative
Chapter 02 - Damages for Delinquent Payment of Tax
Section 35-4-01-02-102

In the instance a taxpayer makes a late payment, and it is determined by the Commissioner that there is intentional disregard of the law or done with intent to defraud, there will be a fifty percent (50%) penalty assessed. This penalty will be used when the taxpayer continually pays late, when an underpayment of tax by one hundred percent (100%) or more is discovered during an audit or when an audit of taxpayer records reveals an attempt to disguise or hide taxable transactions. This penalty will not be assessed if the taxpayer can prove reasonable cause for failure to comply.