The aggregate amount of tax credits that may be allocated by the Department of Revenue to individuals making voluntary cash contributions to a qualifying charitable organization or a qualifying foster care charitable organization under Miss. Code Ann. Section 27-7-22.39 has been reached. Thus, unless business 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.
In the 2020 legislative session, House Bill 1729 passed to amend The Children’s Promise Act. The amendment gives priority for tax credits authorized under Miss. Code Ann Section 27-7-22.39 to certain business enterprises making voluntary cash contributions during calendar year 2020 to eligible charitable organizations (ECOs) certified as Job Training, Workforce Development or Educational Services Charitable Organizations. As a result, the DOR is currently accepting applications for contributions made to these ECOs.
The 2020 Second Amendment Holiday will take place between 12:01 A.M. Friday, August 28, 2020 and 12:00 Midnight Sunday, August 30, 2020. Please see the following link for additional information:
A sales tax holiday is a temporary period when sales taxes are not collected or paid on purchases of specific products and/or services.
The 2020 Mississippi Second Amendment Weekend holiday takes place between Friday, August 28, 2020 and Sunday, August 30, 2020.
The 2020 Sales Tax Holiday takes place between Friday, July 31, 2020 and Saturday, August 1, 2020.
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.
Notice: In 2019, the Mississippi Legislature passed the Children’s Promise Act, which authorized a tax credit for businesses when they donate to an Eligible Charitable Organization. There is no cap for each individual business taxpayer; however, the total amount that can be allocated is $5,000,000 for all business taxpayers combined. The Department foresees that applications for the entire $5,000,000 will be submitted soon after the application process opens on January 1, 2020.
The nearest District Offices are:
Clinton
500 Clinton Center Drive
Clinton, MS 39056
601-923-7700
Hernando
2631 McIngvale Rd, Ste 116
Hernando, MS 38632
662-449-5150
The number to the DOR Call Center is 601-923-7700. Visit our website at www.dor.ms.gov for more information for filing and paying taxes through TAP.
For questions regarding promoted events, please contact:
Brenda Thomas (601-923-7301) in our Clinton office or
An additional 1% tax on the sales of hotels and restaurants in the city of Starkville effective August 1, 2019.