MS HB636

Amends Mississippi Code Section 27-7-5 to subject nonresidents' net income derived from property, activity, or other sources within Mississippi to state income tax.

Revises the definition of "doing business" in Section 27-7-23 to include 11 specific activities, including regular solicitation of business in Mississippi, issuing credit/debit cards to Mississippi customers, and regular performance of services outside Mississippi with benefits received within the state.

Expands "doing business" definition to include franchising/licensing agreements and regular transactions involving intangible personal property resulting in receipts flowing to nonresidents from within Mississippi.

Clarifies that business income is presumed for all income types unless taxpayer proves otherwise by preponderance of evidence that income is properly classified as nonbusiness income.

Effective date: January 1, 2012.