35 Miss. Admin. Code Pt. III, Subpt. 3, Ch. 05 — Proceeds of Life Insurance

100 Mississippi law excludes from the definition of "Gross Income" the proceeds of life
insurance policies and contracts paid upon the death of the insured. Mississippi does not
limit the exclusion on any death benefit paid by or for the employer of the deceased
employee.
101 All interest income on life insurance proceeds should be included in gross income.
102 The Commissioner will follow Federal Rules, Regulations and Revenue Procedures as are
deemed not contrary to the context and intent of Mississippi Law.
103 (Reserved)
104 (Reserved)
Chapter 06 Reserved
35.III.3.06 revised effective January 1, 2020