MS SB3097

Excludes receipts from sales of pharmaceutical products to a Mississippi distribution facility from the franchise tax apportionment ratio if the seller is a "major supplier" shipping at least $100 million annually in pharmaceutical products.

Defines "Mississippi distribution facility" as a facility that received funding from the "Mississippi Industry Incentive Financing Revolving Fund" with construction begun between July 1, 2010, and December 31, 2010.

Authorizes an income tax deduction for "major suppliers" who contribute human pharmaceutical products exceeding $250 million, following federal charitable contribution limitations without reducing Mississippi net income below zero.

Applies to tax returns for tax years ending on or after December 31, 2001, for the franchise tax provision and on or after January 1, 2011, for the income tax deduction.