Receive a Tax Credit While Empowering Children to Experience an Improved Quality of Life

An income tax credit is available for voluntary cash contributions from individuals made to a Qualified Charitable Organization (QCO) and/or a Qualified Foster Care Charitable Organization (QFCCO). Sally Kate Winters Family Services is recognized as a Qualified Foster Care Charitable Organization.

• For contributions made to a QFCCO, the tax credit is limited to the lesser of five hundred dollars ($500) or the amount of the contribution in any taxable year for a single individual or a head of household, and the lesser of one thousand dollars ($1,000) or the amount of the contribution in any taxable year for a married couple filing a joint return.

   

• The taxpayer must apply for the tax credit. Complete the MSDOR Children’s Promise Act Tax Credit Application provided by the Mississippi Department of Revenue.

   

• The taxpayer must certify to the department the dollar amount of the contribution made or to be made during the calendar year.

   

• The Mississippi Department of Revenue shall allocate tax credits based on the dollar amount of the contribution as certified in the application within thirty (30) days of receipt of application.

   

• The taxpayer should make the contribution and send the verification of the contribution to the Mississippi Department of Revenue. Verification sent by the taxpayer to Mississippi Department of Revenue must be received within sixty (60) days from the date of the allocation notification.

   

• If the contribution is not made within sixty (60) days, the tax credit allocation will be cancelled by the Mississippi Department of Revenue for reallocation.

   

Taxpayers filing as “single” and “head of household” status may claim a maximum credit of $900. Taxpayers that file as “married filing joint” may claim a maximum credit of $1,800.

• You may only claim a tax credit for your charitable contribution on your Mississippi state return if the organization you donated to is considered a Qualified Charitable Organization (QCO) and/or Qualified Foster Care Charitable Organization (QFCCO).

   

• You cannot claim both deduction and credit for the same charitable contribution on your Mississippi return.

   

• The Mississippi Department of Revenue will allocate credits within a calendar year.

   

• The tax credits provided by the Children’s Promise Act are limited to $3,000,000 per calendar year.

   

• The Children’s Promise Act allows for allocations each calendar year beginning January 1, 2019 and ending December 31, 2020.

   

 Charitable Tax Credit dollars may be carried forward for up to five years, reducing future tax liability.