83-310: Summary of Net Income Schedule (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Mississippi Form 83-310 summarizes the net taxable income or loss and income tax credits of a reporting company and its subsidiary companies for 2024. It totals these amounts for entry on Form 83-105 or Form 83-391.
What you'll need
The form calls for the following information for the reporting company and subsidiary companies:
- Company name.
- Federal employer identification number (FEIN).
- Net taxable income or loss.
- Credit codes and credit amounts.
You will also need the totals from any additional pages of Form 83-310. The form does not list supporting documents to attach.
Common mistakes
- Not rounding amounts: The form says to round to the nearest dollar.
- Leaving out additional-page totals: Enter the totals from columns B and C on additional pages on page 1, line 4. Add lines 3 and 4 to complete line 5.
- Transferring a negative income total: If the total in column C is negative, enter zero on Form 83-105, page 1, line 5, or Form 83-391, page 1, line 1.
- Putting totals on the wrong lines: Transfer the column B credit total to Form 83-105, page 1, line 7, or Form 83-391, page 1, line 4. Transfer the column C income total to Form 83-105, page 1, line 5, or Form 83-391, page 1, line 1.
Questions people ask
What does the 2024 Summary of Net Income Schedule summarize?
It lists the reporting company and subsidiary companies, with their net taxable income or loss, credit codes, and credit amounts. Line 5 combines the income tax credit and net taxable income or loss totals.
Should I include cents?
No. The form says to round to the nearest dollar.
Where do additional-page totals go?
Enter the totals from columns B and C on additional pages of Form 83-310 on page 1, line 4. Then add lines 3 and 4 to complete line 5.
Where do I transfer the final totals?
Transfer the column B total to Form 83-105, page 1, line 7, or Form 83-391, page 1, line 4. Transfer the column C total to Form 83-105, page 1, line 5, or Form 83-391, page 1, line 1. If the column C total is negative, enter zero on that income line.