35 Miss. Code. R. 3-02-04-106
A taxpayer's pro rata portion of interest dividends distributed by a Regulated Investment Company, as defined in I.R.C. Section 851, is nontaxable to the extent that such pro rata portion represents interest received by the Regulated Investment Company from governmental securities which would be exempt for Mississippi income tax purposes if such governmental securities were directly held by the taxpayer.
Notes
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