Mississippi Code Title 27. Taxation and Finance § 27-21-11

The terms “doing business”, or “doing a business”, as used in this chapter, shall mean and include any and every act, power or privilege exercised or enjoyed in this state as an incident to, or in connection with, the lending of money, acquiring or owning notes or other forms of indebtedness secured as aforesaid by liens on tangible personal property located in the state of Mississippi, which liens may be enforced or indebtedness collected under the laws and government of this state; and the enjoyment of any and every right or privilege as owner of such securities on account of which said act, right, power or privilege so exercised or enjoyed, the state of Mississippi can lawfully levy and collect a privilege tax. Provided, the terms “doing business”, or “doing a business”, as used in this chapter shall not include the owning of notes or other forms of indebtedness when said notes or other forms of indebtedness are owned by the dealer selling the tangible personal property securing said notes or other forms of indebtedness.