35 Miss. Code. R. 1-02-208

Examples of records to maintain include, but are not limited to, the following:

1. General ledgers, sales journals, purchase order books, cash receipts books, and cash disbursement books.

2. Canceled checks, bank statements, sales contracts, and purchase invoices.

3. Profit and loss statements and balance sheets.

4. State tax returns and reports, including all schedules or work papers used in the preparation of tax reports or returns.

5. Copies of federal income tax returns filed with the Internal Revenue Service including all work papers, schedules, and similar records.

6. Tax filings with other states including all work papers, schedules, and similar records.

7. Records of loans, services, other non-sales transactions, and any non-business income.

8. Any other records necessary to establish income, deductions, credits, expenses, accounting methods, or other information utilized in determining the Mississippi tax liability.

9. Digital payment records, e.g., Cash App, PayPal, and Venmo.

Notes

35 Miss. Code. R. 1-02-208

Adopted 12/23/2024