{"data":{"id":"us-ms/miss.-code-ann.-27-8-7","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 27-8-7","heading":"Miss. Code Ann. § 27-8-7","body":"(1) An S corporation shall not be subject to the tax imposed by Section 27-7-5 ; however, for an S corporation that has made an election under Section 27-7-26 to be taxed as an electing pass-through entity, the S corporation shall be subject to and pay such tax as provided for in Section 27-7-26 .\n\n(2) For purposes of Section 27-7-15 , each shareholder's pro rata share of the S corporation's income attributable to the state, and each resident shareholder's pro rata share of the S corporation's income not attributable to the state, shall be taken into account by the shareholder in the manner provided in Section 1366 of the Code.\n\n(3) For purposes of determining the amounts taken into account by the shareholders of an S corporation under subsection (2) of this section, the amount of any tax imposed on the S corporation under the Code shall not reduce the S corporation's income attributable to the state and income not attributable to the state.","path":["MS Code","Title 27"],"source_url":"https://legislature.ms.gov/","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-17","retrieved_at":"2026-09-17T20:49:39Z","sha256":"5c76f32ab6f6cb0cb5227299607c86297a788e092980ee475dcf0fbaf6e7be77","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-27-8-5","next":"us-ms/miss.-code-ann.-27-8-9","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}