MS SB2933

Creates new Section 27-7-24.8 establishing a specialized apportionment method for major medical or pharmaceutical suppliers operating Mississippi distribution facilities.

Apportionment percentage is calculated by adding the payroll factor (counted twice), property factor (counted twice), and sales factor (counted once), then dividing by five.

Each factor is calculated as a fraction comparing in-state amounts to total amounts nationwide for payroll, property, and sales during the taxable year.

Defines "major medical or pharmaceutical supplier" as a company shipping medical or pharmaceutical products to a Mississippi distribution facility, with the same definition as used in Section 27-13-13(2)(d).

Effective date is January 1, 2014, with conforming amendments made to Section 27-7-23 to reference the new apportionment provision.