Notice: Miss. Code Ann. §27-7-22.41 provides that the aggregate amount of tax credits that may be allocated by the Department of Revenue to certain business enterprises making voluntary cash contributions to eligible charitable organizations cannot exceed five million dollars ($5,000,000) in a calendar year.
The Department has received applications for allocations exceeding the five million dollars ($5,000,000) of funds available for the 2020 calendar year. Thus, unless businesses fail to make the contributions to the charitable organizations specified on the applications, there will be no additional funds to allocate for the 2020 year.
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