Mississippi DOR Issues Notice on Increased Children’s Promise, Pregnancy Resource Tax Credits

The Mississippi Department of Revenue (DOR) Sept. 27 issued a notice on the Children’s Promise Act and Pregnancy Resource Act for corporate income, individual income, and trust income tax purposes. The notice includes information that: 1) the Children’s Promise Act was amended to increase the aggregate credits available for contributions to Eligible Charitable Organizations (ECOs) and Educational Services Charitable Organizations (ESCOs) to $18,000,000 for calendar year 2023; and 2) the Pregnancy Resource Act was amended to increase the aggregate credits available for contributions to Pregnancy Resource Charitable Organizations (PRCOs) to $10,000,000 for calendar year 2023. The DOR stated that it ...