Children’s Promise Act

Act Now to Get a Jump Start on Reducing Your State Tax Liability!

What is the Children’s Promise Act?

The Children’s Promise Act provides a DOLLAR-FOR-DOLLAR TAX CREDIT to businesses that give to an approved eligible Educational Services Charitable Organization (ESCO). SR1 is approved by the Mississippi Department of Revenue. The Mississippi Department of Revenue has a limited amount of tax credit money available each calendar year on a first-come-first-serve basis, so act quickly to receive your tax credit.

Information provided on this page is not tax advice. Please consult a tax professional regarding your specific tax situation.

3 EASY STEPS

Complete the MDOR Application for tax allocation.

Give Donation to SR1

to receive tax credit up to 50% of your MS State liability and help eliminate disparities in education, health and technology.

Send verification of the contribution to MDOR.

Verification must be received within 60 days of receipt of notification of allocation.
Email Address:
contributiontaxcredit@dor.ms.gov

Mailing Address:
MS Department of Revenue, Office of Tax Policy and Economic Development, PO Box 22828, Jackson MS39215

Deliver Address:
MS Department of Revenue, Office of Tax Policy and Economic Development, 500 Clinton Center Drive, Clinton, MS 39056

Who is eligible to give?

The tax credit is available to a taxpayer who is a business enterprise engaged in commercial, industrial, or professional activities and operating as a corporation, limited liability company, partnership, or sole proprietorship.

Where does your donation go to?

SR1 is a 501 (c)(3) non-profit with more than 10 years of experience in eliminating disparities in health, education, and technology for K-12th grade students and their communities in central Mississippi. SR1 students have a 100% on-time high school graduation and college enrollment rate.

Why should you donate to SR1?

The amount of the credit is up to fifty percent (50%) of the taxpayer’s total income tax liability, fifty percent (50%) of the taxpayer’s total insurance premium tax liability and, in the case of taxpayers not operating as a corporation, fifty percent (50%) of the total real property ad valorem tax liability. The tax credit may be carried forward for five (5) years.

More Info:

For more information on the Children’s Promise Act, visit the Mississippi Department of Revenue’s website.

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