Bill Text | History of Actions | Background | Title |
Description: Income taxation; remove reverter on method of determining "arms length" transactions (STC).
Bill Text: [Introduced]
| 1 | 01/20 (H) Referred To Ways and Means | |
| 2 | 02/26 (H) Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | Revenue | |
| Revenue | Yes | |
| Vote type required | Three/Fifths |
House Committee:
Principal Author: McCoy
Code Sections: A 027-0007-0009, A 027-0007-0015, A 027-0007-0017
Title: AN ACT TO AMEND SECTIONS 27-7-9, 27-7-15 AND 27-7-17, MISSISSIPPI CODE OF 1972, TO REMOVE THE JULY 1, 2003, REVERTER ON THE PROVISIONS IN THE INCOME TAX LAW THAT REVISE THE METHOD OF DETERMINING WHETHER A TRANSACTION BY A CORPORATION OR OTHER LEGAL ENTITY FOR THE BENEFIT OF ITS SHAREHOLDER OR AN AFFILIATED CORPORATION IS AT "ARMS LENGTH" FOR INCOME TAX PURPOSES, WHICH PROVIDE THE RULES THAT APPLY FOR THE RECOGNITION OF GAIN OR PROFIT FROM THE CASUAL SALE OF PROPERTY BY INSTALLMENT SALE AND PROVIDE FOR RESTRICTIONS ON THE DEDUCTIBILITY OF CERTAIN INTANGIBLE EXPENSES AND INTEREST EXPENSES WITH A RELATED MEMBER; AND FOR RELATED PURPOSES.
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2003/html/History/HB/HB1289.htm