CHILDREN'S PROMISE TAX CREDIT

ATTENTION: New applications are available for all 2023 applicants.

Please make sure you use the most updated application for business credits.

***At this point in the year, only the Individual tax credit is available under the original ECO for Foster Care Organizations. A limited number of credits are available per calendar year.

Through the Children's Promise Act, individuals and businesses can receive up to two Mississippi tax credits for donations made to Southern Christian Services for Children and Youth, Inc.

1). 2023 Application for Allocations to Qualifying Charitable Organizations or Qualified Foster Care Charitable Organizations

For more information pertaining to the ECO Applications - the Children's Promise Act, please visit https://www.dor.ms.gov/business/eligible-charitable-organizations-childrens-promise-act

ECO Individual Application

ECO Business Application

2). 2023 Application for Allocations to Eligible Transitional Home Organizations

For more information pertaining to the ETHO Applications - the Children's Promise Act, please visit https://www.dor.ms.gov/credits/ETHO

ETHO Individual Application

ETHO Business Application

Here's How

For Individuals:

Step 1

Complete the MSDOR application for tax credit allocation. Within 30 days of receipt, MDSOR will send notification of allocation.

Step 2

Make donation to Southern Christian Services to receive tax credit. For the QFCCO, $3000 maximum for married couples filing joint or $1500 for single or HOH filers or 50% of Ad Valorem tax on real property.

For the ETHO, a maximum of 50% of your MS income tax liability or 50% of your Ad Valorem tax liability on real property can be claimed for a current year tax credit. Contributions approved for the tax credit that are in excess of these limits can be carried forward for 5 years.

Step 3

Send verification of the contribution to the MSDOR. Verification must be received within 60 days of receipt of notification of allocation.

For Businesses:

Step 1

Complete the MSDOR application for tax credit allocation. Within 30 days of receipt, MDSOR will send notification of allocation.

Step 2

Make donation to Southern Christian Services to receive tax credit. For the ECO and the ETHO tax credits, a maximum of 50% of MS income tax liability or 50% of your Ad Valorem tax liability on real property can be claimed for a current year tax credit. Contributions approved for the tax credit that are in excess of these limits can be carried forward for 5 years.

Step 3

Send verification of the contribution to the MSDOR. Verification must be received within 60 days of receipt of notification of allocation.

This information is not intended to give tax advice. Please contact a tax professional about your specific tax situation.