35 Miss. Code. R. 4-10-01-508 - [Effective 12/26/2024]
When records and invoices are not kept to substantiate the exemption, sales made to the contractor or subcontractor will be considered retail sales, taxable at the seven percent (7%) retail rate. Contractors with contracts taxable under Miss. Code Ann. Section 27-65-21 who have paid retail sales tax on purchases of materials and services in the state that become a component part of a structure being erected or repaired may take a credit against their sales tax liabilities for the sales tax paid on these purchases after obtaining the MPC for the related project.
Notes
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