84-105: Pass Through Entity Tax Return (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Form 84-105 is the 2024 Mississippi Pass-Through Entity Tax Return for S corporations and partnerships, including LLCs and LLPs. It reports S corporation franchise tax and composite or electing pass-through entity income tax, along with credits, payments, tax due, and overpayment
Who files this form
The 2024 form includes filing categories for S corporations (Federal Form 1120-S) and partnerships, LLCs, and LLPs (Federal Form 1065). It provides for S corporation franchise tax and composite or electing pass-through entity income tax.
The form does not state the full rules for determining which entities must file. It does state that an entity issuing 100 or more Mississippi K-1s must file this return electronically.
What you'll need
Have the following information and applicable forms ready:
- Entity identification: legal name and DBA, FEIN, Mississippi Secretary of State ID, address, NAICS code, county code, and tax-year beginning and ending dates.
- Form 84-110, line 18, for taxable capital if reporting S corporation franchise tax.
- Form 84-122, line 32 for composite taxable income or line 35 for electing pass-through entity taxable income.
- Form 84-401 for franchise tax and income tax credits.
- Form 84-161, line 3D, for credit for tax paid on an electing pass-through entity return. You must attach the K-1s received from electing pass-through entities when claiming this credit.
- Form 83-305, line 19, or Form 80-320, line 11 for composite partnerships only, if reporting interest and penalty on underestimated income tax payments.
- Amounts of prior-year overpayments, estimated tax payments, and payment with extension.
- Names, FEINs, addresses, and other requested details for Mississippi pass-through investments, Q-Subs, and disregarded entities.
- Names, titles, SSNs, addresses, and ownership percentages for owners, officers, directors, or partners responsible for the organization's fiscal management.
How to file
Complete the applicable entity classifications, tax calculations, payment entries, and entity schedules. Use the supplemental schedules on page 4 if more space is needed for pass-through investments, Q-Subs, or disregarded entities.
Sign and date the officer declaration and enter the officer's title and business phone number. The form also has signature and identification fields for a paid preparer.
Electronic filing: If issuing 100 or more Mississippi K-1s, you must file electronically. The form does not provide electronic filing steps.
Mailing address printed on the form:
Department of Revenue
P.O. BOX 23191
Jackson, MS 39225-3191
Common mistakes
- Filing on paper when issuing 100 or more Mississippi K-1s. The form requires electronic filing in that case.
- Claiming the credit on line 12 without attaching K-1s received from electing pass-through entities. The form requires these attachments.
- Overlooking the instruction to round S corporation franchise tax amounts to the nearest dollar.
- Leaving additional entities off the schedules when space runs out. The form directs you to attach additional page 4 schedules if needed.
Questions people ask
When is electronic filing required?
The form requires electronic filing if you issue 100 or more Mississippi K-1s.
Can an overpayment be applied to next year?
Yes. Line 21 is for the overpayment credited to next year. Line 22 is for the amount to be refunded, calculated as line 20 minus line 21.
What extra information is requested for a final return?
Part I asks for the reason for the final return and its effective date. It also requests details about the new or existing corporation, QSSS parent, or SMLLC owner when the listed entity changes apply.
How do I identify an amended return?
Check the Amended Return box and select a reason in Part I: Mississippi Correction, Federal Correction, or Other.
Can the Department of Revenue discuss the return with my preparer?
The signature page includes a box to check if the return may be discussed with the preparer.