Mississippi
For Mississippi, section 179 conformity is conforms; state section 179 cap is federal limit applies; state section 179 phase-out is federal phase-out applies; bonus depreciation conformity is partial conformity; has income tax is yes, recorded from its source on 2026-08-15; source re-checked 2026-10-01.
- State
- Mississippi verified
- Section 179 conformity
- conforms our reading
- State Section 179 cap
- federal limit applies
- State Section 179 phase-out
- federal phase-out applies our reading
- Bonus depreciation conformity
- partial conformity our reading
- Add-back rule
- Mississippi regulations provide that bonus depreciation is not considered 'reasonable.' However, effective July 1, 2021, Mississippi expressly provides that, for new or used aircraft, equipment, engines, or other parts and tools used for aviation, the allowance for bonus depreciation conforms to federal bonus depreciation rates. For tax years beginning after December 31, 2022, expenditures for business assets that are qualified property or qualified improvement property are eligible for 100% bonus depreciation. our reading
- Has income tax
- yes our reading
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
What the source says
State Follows Bonus Depreciation-TCJA of 2017 : Partial Mississippi partially conforms to the provision of the Tax Cuts and Jobs Act that provides a 100% first-year deduction for the adjusted basis that is allowed for qualified property acquired and placed in service after September 27, 2017, and before January 1, 2023. Generally, Mississippi allows for a "reasonable" allowance for depreciation, and Mississippi regulations provide that bonus depreciation is not considered "reasonable." However, effective July 1, 2021, Mississippi expressly provides that, for new or used aircraft, equipment, engines, or other parts and tools used for aviation, the allowance for bonus depreciation conforms to federal bonus depreciation rates, and the "reasonable allowance" for depreciation is 100%. For the purpose of computing income tax for tax years beginning after December 31, 2022, expenditures for business assets that are qualified property or qualified improvement property are eligible for 100% bonus depreciation and may be deducted as an expense incurred by the taxpayer during the tax year during which the property is placed in service, notwithstanding any changes to federal law related to cost recovery beginning on January 1, 2023, or on any other date. State Follows IRC § 179-TCJA of 2017: Yes Mississippi conforms to the provision of the Tax Cuts and Jobs Act that increases the maximum amount a taxpayer may expense under IRC § 179 to $1 million, increases the phase-out threshold amount to $2.5 million, and provides for indexing for inflation. Mississippi follows IRC § 179 expensing rules.
— accountants.intuit.com, retrieved 2026-08-15
Source
- accountants.intuit.comhttps://accountants.intuit.com/support/en-us/help-article/asset-depreciation/state-conformity-special-depreciation-allowance/L27kRyetJ_US_en_US