Drake Tax – 2024 Form Availability and Tax Changes: Mississippi

Article #: 20026

Last Updated: January 20, 2025

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Supported Forms

The following Mississippi forms are supported in Drake Tax 2024. Forms denoted with e-Sign icon can be e-signed.

Note  Dates shown below are estimates based on the most up-to-date information currently available to Drake Software.

We are committed to meeting or exceeding the delivery dates listed; however, there may be additional factors that could impact the final date. The chart will be updated as new information becomes available.

Chart key:

t Form is supported in the indicated return type.

P Form is available for e-file / paper file.

r Form is not supported for e-file / paper file.

MM/DD Estimated availability date.

The chart may not be displayed as expected on mobile devices.

Form Description IND CRP SCRP PTR FID e-File Paper File
  Federal/State Depreciation Difference Worksheets t t t t t r P
21-002 MS Power of Attorney t t t t t 03/07 03/07
73-033 Personal Property Rendition t         r P
80-105 Resident Individual Income Tax Return t         01/24 P
80-106 Individual/Fiduciary Income Tax Voucher t       t r P
80-107 W-2 Income/Withholding Tax Schedule t       t 01/24 01/24
80-108 Schedules A, B, and N t         01/24 01/24
80-115 (MS8453-IIT) e-Sign icon Declaration for Electronic Filing t         P P
80-115OL Online Electronic Filing Declaration t         P P
80-155 Net Operating Loss Schedule t         02/22 P
80-160 Tax Credit for Income Tax Paid to Other States t       t r P
80-161 Tax Credit for Tax Paid by an Electing Pass-Through Entity t       t 03/07 P
80-205 Nonresident/Part-Year Resident Income Tax Return t         01/24 01/24
80-315 Reforestation Tax Credit t t t t t 03/21 P
80-320 Interest and Penalty Worksheet t         r P
80-340 Affidavit for Reservation Indian Income Exclusion t         r 02/07
80-401 Tax Credit Summary Schedule t       t 02/22 P
80-491 Additional Dependents t         r P
81-110 Fiduciary Income Tax Return         t 02/22 P
81-115 (MS8453-F) e-Sign icon Fiduciary Declaration for Electronic Filing         t 02/07 02/07
81-131 Fiduciary Schedule K Beneficiaries’ Share of Income         t 02/22 P
81-132 Fiduciary Schedule K-1         t 02/07 P
83-105 Corporation Income and Franchise Tax Return   t       02/07 P
83-110 Corporation Franchise Tax Schedule   t       02/22 P
83-115 (MS8453-C) e-Sign icon Corporation EF Declaration   t       r P
83-120 MS Balance Sheet   t t     02/07 02/07
83-122 Computation of Net Taxable Income Schedule   t       02/22 P
83-124 Direct Accounting Income Worksheet   t       03/07 03/07
83-125 Business Income Apportionment Schedule   t       03/21 P
83-150 Nonbusiness Income Schedule   t       03/21 P
83-155 Net Operating Loss & Capital Loss Schedule   t       r P
83-180 Application for Automatic Six-Month Extension   t t t   03/07 P
83-300 Corporate Income Tax Voucher   t       r 02/07
83-305 Underestimate of Corporate Income Tax Worksheet   t t     r P
83-310 Summary of Net Income of Corporations   t       02/07 02/07
83-401 Income Tax Credit Summary   t       03/07 P
83-450 New Jobs Credit   t t t   r 02/07
84-105 Pass-Through Entity Tax Return     t t   02/07 02/07
84-110 S Corporation Franchise Tax Schedule     t     02/07 P
84-115 (MS8453-PTE) e-Sign icon Pass-Through Entity EF Declaration     t t   02/07 P
84-122 Net Taxable Income Schedule     t t   02/07 02/07
84-124 Direct Accounting Income Statement     t t   03/07 03/07
84-125 Business Income Apportionment     t t   03/07 P
84-131 Schedule K     t t   02/07 P
84-132 Schedule K-1     t t   02/07 P
84-150 Nonbusiness Income Worksheet     t t   r P
84-155 Net Operating Loss Schedule     t t   03/07 P
84-161 Tax Credit for Income Tax Paid by Electing Pass-Through Entity   t t t   02/07 P
84-300 Pass-Through Entity Income Tax Voucher     t t   r P
84-380 (S Corporation) Non-Resident Income Tax Agreement     t     r P
84-381 Pass-Through Entity Election     t t   r P
84-401 Tax Credit Summary Schedule     t t   03/07 P
710661 Installment Agreement t         03/21 P
MS4562 Depreciation and Amortization t t t t t r P

New Form

Form 84-161, Tax Credit For Income Tax Paid By Electing Pass-Through Entity, has been added for tax year 2024.

Modified Forms

  • Credit for Taxes Paid on an Electing Pass-Through Entity – Moved to the following lines:

    • Form 80-105, Resident Individual Income Tax Return – Line 26

    • Form 80-205, Nonresident/Part-Year Resident Individual Income Tax Return – Line 28

    • Form 81-110, Fiduciary Income Tax Return – Line 8

    • Form 83-105, Corporate Income and Franchise Tax Return – Line 12

    • Form 84-105, Pass-Through Entity Tax Return – Line 12

  • Form 80-160 (Tax Credit for Income Tax Paid to One or More Other States) – Changed line 6 so that the first $10,000 is now taxed at 0%. The tax rate for line 7 has decreased from 5% to 4.7%

  • New tax credits – Added the following credits to the Tax Credit Summary Schedule (Forms 80-401, 83-401, and 84-401:

    • Dependent Care Credit

    • Food Bank Charitable Contribution Credit

    • Low-Income Health Care Services Charitable Contribution Credit

    • Transitional Home Charitable Contribution Credit

Tax Law Changes

  • House Bill 531 – Taxable income up to and including $10,000 is now excluded from individual income tax.

  • House Bill 1733 – For tax years beginning after December 31, 2022, a taxpayer may elect to take a full and immediate deduction for certain specified research or experimental expenditures, or 100% bonus depreciation for expenditures of certain qualified business property.

  • Senate Bill 2696 – An individual income tax credit is available for up to $5,000 per dependent child residing outside of Mississippi before adoption and up to $10,000 per dependent child residing in Mississippi before adoption.

  • The franchise tax rate has been reduced from $1.50 à $1.25 per $1,000 of capital in excess of $100,000.