84-125: Business Income Apportionment Schedule (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Mississippi Form 84-125 is the 2024 Business Income Apportionment Schedule. It compares Mississippi property, payroll and sales with totals everywhere and applies the formula for the business type to calculate an apportionment ratio for Form 84-122, line 21.
What you'll need
The schedule calls for this information:
- Your federal employer identification number (FEIN).
- Mississippi and everywhere totals for property at the beginning and end of the taxable year.
- Annual rental property amounts for the rental property calculation.
- Mississippi and everywhere payroll and sales totals.
Airlines, motor carriers, express companies, and telephone and telegraph companies must attach a schedule for the required special formula.
Common mistakes
- Check one option in Part II for the application of apportionment factors.
- Round Part II results to four decimal places.
- Enter the resulting apportionment ratio on Form 84-122, line 21.
- If the special formula on line 7 applies, attach the required schedule.
- Major medical or pharmaceutical suppliers should see the instructions for Form 84-100, as directed on the form.
Questions people ask
How do I calculate the property factor?
Add beginning-of-year and end-of-year property amounts, then divide by two to get the average net book value of assets. Add annual rental property multiplied by eight. Divide the Mississippi total on line 1f by the everywhere total on that line.
How do I calculate the payroll and sales factors?
For each factor, divide the Mississippi amount in column A by the everywhere amount in column B. Use line 2 for payroll and line 3 for sales.
Where do I enter the final apportionment ratio?
Part II directs you to enter the resulting ratio on Form 84-122, line 21.
Which businesses need a special formula?
Line 7 requires a special formula for airlines, motor carriers, express companies, and telephone and telegraph companies. Attach a schedule and enter the ratio on Form 84-122, line 21.